China Commercial Bank Credit Assets Securitization

Securitization, a significant financial innovation originated in America in 1970s, has been developed with striking speed in the world. The broad meaning of securitization, related to disintermediation, generally means direct financial methods such as stock financing or bond financing. The narrow meaning, as securitization we usually mentioned, is derived at transforming the non-security assets in to securities.In the dissertation, the author wishes to study the principle of securitization, and use these theories to solve the problems in China. There are three parts in the dissertation.The first part explores the basic principles in securitization, such as the principles and the structures of securitization, the risks and incomes in securitization. Based on the analyses, the author educe the substance of securitization, the "Four Reconstructions".In the second part of the article, the author studies the commercial loan securitization in China. The banks and macroeconomy will benefit from this innovation, and it has been provided the conditions and environments that loan securitization needed. Then the author discussed the framework about loan securitization. In the third part of the dissertation, author focuses his mind on non-performing loan securitization in China. Non-performing loan is one of the main problems we meet in the banking system reform. According to the experiences of other counties, securitization is an useful tool to resolve this problem. And how about it in China, author showed his own points.It is step by step that author research the securitization, loan securitization and non-performing loan securitization in the article. The theory of securitization and the environments in China has been combined closely by author. The author will be appreciated if readers point out the mistakes and weaknesses in the article. There are about 41,000 Chinese characters in the dissertation.