Asset Securitization And Infrastructure Finance

Being a creative financing method, asset security has been popular and widely used worldwide since its appearance in USA in 1970' s. In China, with the further study in the theory of asset security, wide discussion was carried out about the problem that in which specific fields on earth should asset security been outspreaded. Some views appear saying that fields in China should include three, as following shows: lodging mortgage loan, bad asset of bank and foundation establishment with charging rights. Are above-mentioned views practical or not is an important subject bearing practical and theoretical significance.Beginning with research on concept and operation mechanism of asset security, using the basic theory and principle on it, the thesis gives detailed analysis on schemes proposed in China as follows: lodging mortgage loan, bad asset of bank and foundation establishment with charging rights, saying that: 1). Lodging mortgage loan is the main direction of Chinese asset security in the coming future while the basic conditions still wanted; 2). Bad asset of bank has no essential character of asset security and can not work as the breaking point of that; 3). With feasibility, foundation establishment with charging rights works as the beginning point to realize asset security. What' s more, views in this thesis say that asset security at present should go along the way of international security and entrusting.At the same time, preliminary design should be done on key steps as the SPV setting up of asset security, trading procedure, trading structure and credit upgrading, which are the main creative views of this thesis especially entrusting plan.