Research On Legal Issues Of Asset Securitization Of State-owned Enterprise

Since its launch in 2005,China's asset securitization has developed for ten years. By the end of 2014, the issuance of asset securitization has more than 300 billion yuan,at the same year, China Banking Regulatory Commission and China Securities Regulatory Commission decide to change examination and approval system of asset securitization to record system. In April 2015, the People's Bank of China also announced that securitization of credit assets will adopt record system. Since then, China's asset securitization say farewell to examination and approval system among Banks and exchange market. By regulators reducing the decentralization policy, is helpful to promote further development of asset securitization.State-owned enterprises play an important role in the development of our economy, but at present the overall debt is very high, the asset- liability ratio of state-owned enterprises has reached to 65.2% in December 2014.With our economy is under downward pressure, some state-owned enterprises are faced with problems of high debt and cash flow difficulties, etc. State-owned enterprises need to seek ways to resolve the problems urgently. Asset securitization, as a new financing tool, has advantages in enhancing asset liquidity, optimizing enterprise financial position, etc. Under the difficult situation of our country's macro economy, promoting asset securitization process of state-owned enterprise will help to solve the current economic plight.This paper, starting from the basic concept of asset securitization, give a brief review of the development process of asset securitization at home and abroad and introduce the current development of enterprise asset securitization in China. Demonstrate necessity and feasibility to promote asset securitization of state-owned enterprises. The focus of the research is under the current legal environment, what main legal issues will face to promote asset securitization of state-owned enterprises and to put forward legal advices to the development of asset securitization of state-owned enterprises. At the end of the paper, the writer summarizes main achievements of this research.