China Legal Problems Of The Asset Securitization

Asset Securitization is a new financing technique, which comes out from USA in 1970s. In just 30 years, it developed very fast. The mortgage-backed securities market has become the second market in USA. In Europe and Asia, Asset Securitization is widely applied, too. This article researches it from the legal angle, tries to analyze the principle of its design and value, what's more, it studies whether it is necessary to proceed Asset Securitization in our country, and if the reply is yes, what problems will it may be confronted and how to solve them.The fore speech of the text points out Asset Securitization is a kind of margin methods first, then introduces its basic condition, and from here derives the full text.The text is divided into five parts totally. The first part is a simple introduction of Asset Securitization. The definition is put out firstly, Asset Securitization is a margin process that someone publish the stock certificate to acquire the fluxing funds relying on the asset that owns foresee future income, when the future income becomes nonce, it can be used to pay for the capital and interest to the investors. Then are its characteristics. At last, for holding the concept completely, It introduces the production and development of Asset Securitization from the history angle.The second part explains the operation procedure and basic legal relations of Asset Securitization.The third part analyzes the reason that Asset Securitization is chosen and its strategic meanings in our country.The fourth is the most important part of the text. It analyzes the main legal problems and the way to solve it in the process of Asset Securitization. The explanations include the legal problems about the underlying assets, the setting up and operating of SPV, the bankruptcy-remote and the publishing of the securities.In the fifth part, it analyzes the actual condition of Asset Securitization in our country and brings up the suggestion to precede Asset Securitization in our country on the whole.Finally ends the text.