Thinking About Practice Of Asset Securitization In China

Asset securitization is a common financial instrument out of China. It has some functions such like improviing liquidity, creating credit and transfering risk. Asset securitization triggers much innovation of financial fields of many countries. China should learn about international experience in asset securitization.In recent years, research over asset securitization has become one of new theoretical hot in China. However,, there is a wide gap between China and leading freign counties Thus enhancing theoretical and applied research over the asset securitization is necessary, and especially it has great significance that the use of theories and methods of asset securitization solves practical problems in China.The paper describes the main problems about asset securitization in our coutry, refers to the experience of other countries, analyzes the demand、feasibility、and necessity of asset securitization, and makes specific recommendations on promoting further development of the field. This paper contains five parts:The first part of the paper is summary of asset securitization. It introduces the concept, characteristics, key steps, and oter theoretical basis of asset securitization.The second part is foreign asset securitization experience. It mainly introduces current overview and histerical experience of asset securitization in U.S., European countries and Asian countries.The third part is feasibility and necessity of the implementation of asset securitization in China. Supply and demand analysis of asset securitization in China is the starting point of the fourth part of paper.The forth part is the analysis to the practice of asset securitization in China. It mainly summarizes the characteristics and problems of asset securitization in China, and analyzes concrete practice through two specific cases: CIMC trade receivables securitization and Sanya, Hainan real estate securitization.The fifth part is the proposals to improve the development of asset securitization in China. Using the experience of other countries for reference, the part of the paper includes concrete proposals about the development of asset securitization in China.