Develop China’s Securitization Based On Foreign Referential Experiences

Asset securitization is one of the financial innovations developedmost rapidly in the last30years. By means of realignment of assets andcredit enhancement, it turns the original assets into securities with betterliquid, which not only provide investors with stable interest, but also meetthe issuer’s demand for money. Since it was born in the United States inthe1970s, asset securitization has been widely used in the worldwide.This paper, through comparative method, analyses the history andcurrent status of foreign asset securitization, summarizing the successfulreferences of its achievement. Using U.S. historical data, it does anempirical test to verify that asset securitization has a positive impact onthe economy and analyses its influencing factors. Meanwhile, it make aresearch on China’s current development and problems in assetsecuritization business, proposing,from both macro and microperspectives, a set of systematical solutions.