Research On Asset Securitization Of Financing Programs Of Local Government Financing Platform

Since the establishment of local government financing platform, it assumes the functions of local government financing, but there comes a lot of problems, more and more regulators concern about this. For example, debt main responsibility is unclear, excessive debt, over-reliance on land transfer debt, financing behavior irregular and opaque. After the audit of local government debt in2010, China Banking Regulatory Commission(CBRC) controls the financing platform on the following aspects:bank loans, trust financing......With the local government debt issued this year in many provinces as pilot projects, the private placement bond was forbidden, financing channels was fewer and fewer. Government financing platform is expected to transfer to asset management of brokerage, asset securitization business in the future. Chinese asset securitization financing is still in its infancy. Under the great support of policy, asset securitization will develop fast in the coming future.This article summarized both the foreign and domestic theory and practical experience of asset securitization financing. By analyzing the operation principle and mode of operation of enterprise asset securitization, the author propose the advantages and feasibility of asset securitization products. In this study, the author will design many asset securitization financing programs and provide constructive practical mode for a city investment company in Z City. It will make the asset securitization financing of local government platform develop successfully. Moreover, it will make an innovation for the research on financing of Chinese government platform.