The Research On Asset Securitization Of Microfinance Companies

May 2008,<the guidance of the microfinance companies> from the People's Bank of China and the China Banking Regulatory Commission jointly issued. The guidance allows the microfinance companies funded by the people to innovative financing channels to solve the financing difficulties of small and medium enterprises. But microfinance companies can only issue loans and can not absorb deposits. Also, the money can only come from the bank, shareholders and donations. Therefore, the microfinance companies faced the inherent difficulty of financing. It is difficult to provide much-needed loan funds for small and medium enterprises. In order to deal with this problem, microfinance companies must innovate financing channels. The development of microfinance companies'asset securitization is a feasible solution.China Foundation For Poverty Alleviation funded at the end of 2008.Its registered capital is 50 million yuan. It is specifically responsible for the implementation and management of micro credit pilot projects. After several years of rapid development CFPA Microfinance has become China's largest public welfare microfinance institutions. On 15 January 2015, after the asset securitization new regulations issued, CFPA has carried out asset securitization (securities referred to as "14 and 1A" stock code 119119). This is the first appearance of the public institutions in Shenzhen and is also the new achievement of microfinance institutions to actively explore financing channels.This paper mainly focuses on the CFPA asset securitization and analys the case from the aspects of motivation, core links, specific characteristics, advantages and problems. Also, this paper will put forward some suggestions on the implementation of asset securitization in China's microfinance companies. The text is divided into four parts:the first part is the introduction. This part mainly introduces the background and significance of the research, and some research findings about this topic. The second part firstly introduces the related theory of Asset Securitization and then introduces the background, overview of this asset securitization in our country. The third part is the most important part of this paper. This part is mainly about analysis of the case from multiple perspectives such as motivation, core links, specific characteristics, advantages,disadvantages etc. The last part will summaries the case and put forward suggestions...