Construction Enterprise Accounts Receivable Securitization Research

Since the 70’s of last century, Asset securitization born in the United States has been widely used in capital markets, it has now become one of the main financing model developed world capital markets. At the same time, its unique asset securitization transaction structure and transactions, corporate assets to improve liquidity and improve the balance sheet structure gained a major breakthrough, so it is regarded as one of the best theorists way to solve the financing problem. Accounts receivable securitization is the important one, it can not only enrich corporate financing channels, improve the financial structure and accounts receivable management level, regulate China’s capital market, but also to promote the development of various types of intermediaries and perfect, so as to promote the further deepening of China’s financial reform.With the process of urbanization continues to push the urbanization rate rising, the construction industry as the process of urbanization major force behind such construction enterprises in China’s economic development status increasingly important play is to promote China’s economic development an important force in the one. The size of the industry growing at the same time, construction enterprises financing problems have gradually become a major obstacle hinder the further development of the construction industry, the existing forms of financing company has not meet the requirements of the development of the construction industry, the development of new forms of financing have been imminent. Accounts receivable securitization carried out with a more realistic demand strong, more importantly, is a national policy orientation make refers to the guidelines. In addition, the accounts receivable securitization may be not only enterprises to lower the cost of access to financing, but also to improve the operational efficiency of funds and reduce the stock of corporate accounts receivable, inventory of assets to improve liquidity and many other advantages."Several opinions On the financial support steady growth of industrial structural adjustment increase efficiency" released on February 16,2016, cleared that the increase of asset securitization support,as the policy conducted, there is a advantage of policy for asset securitization.This paper attempts to receivables securitized product design, hoping to solve our construction enterprises are facing the problem of high accounts receivable, construction enterprises to improve the financing environment, optimize the capital structure. Firstly accounts receivable securitization concepts and theories introduced in detail; and comparative analysis of the domestic and international asset securitization development process, and describes the accounts receivable securitization business case for domestic enterprises; the last of accounts receivable securitization products made designs, and verified by model accounts receivable securitization feasibility.