Realistic Choice Of Asset Securitization

As a new financial tool, asset securitization has developed for more than 30 years. In the uninterrupted growth of asset securitization, many new transaction tools and methods have turned up, and made it more perfect in its financial practices among the world.Because of the self-centered behavior of micro-economy bodies such as invest & circulate body and financial medium organizations etc., asset securitization was became a common choice among the financial market. Meanwhile, the deep and widespread of asset securitization in financial market was continuously deepen and widen relied on its advantages such as evading control, improving dealing conditions and lowering financing cost and so on. Facing the tide of asset securitization, financial theory researchers were also created many theories to develop and improve the practice of asset securitization in succession. At the moment, it was formed a rigorous theory system of asset securitization, which was with the analysis of asset cash flow at the core and with asset rebuilding, risk segregating and credit promoting as principals.Chinese practice of asset securitization was developed late, only have several examples of case till now, which were all in cross-border securitization. It is true that our macro-economy system and financial markets were not perfect. There are still many hinders and difficulties in implementing inner-state asset securitization, such as market organizations, laws and rules, tax system and accounting system etc. So, we should push on cross-border securitization at first, bring the advantages into full play, amass practical experiences and create an appropriate circumstance for our inner-state asset securitization. In the choice of basic asset of cross-border securitization, we can consider in several aspects such as collateralized loan obligations, mortgage-backed securitization, basic infrastructure charge, trade credit and so on.At the present, China has some practical cases of cross-border securitization. These examples of cases were focused on high way charge securitization and international trade credit securitization. For speeding up Chinese cross-border securitization development, we should take many steps to perfect our financial system and make Chinese cross-border securitization develop in a healthy and ordering way.