A Study On Leasing Securitization In China

China's financial leasing industry started in the 1980s,although the history is short,but with the real economy in terms of support for high-end equipment,energy saving,new energy and other strategic emerging industries and the national "three rural" and other key areas important effect.After 2007,the CBRC issued to allow commercial banks to set up financial leasing companies,China ushered in a stage of rapid development of the leasing industry.By the end of 2015,the total number of financial leasing companies for 4508,an increase of 2306 over 2014,of which only 40 financial leasing companies,put on the amount of up to 710.855 billion yuan.As for the enterprise invested capital of leasing companies,usually only responsible for a small part of the funding sources,and most of the funds from the market generally,then,with the development of the leasing market,leasing companies are thinking about innovative approaches its financing.Far Eastern Leasing 2006 issue of the "Far East to support the first phase of the leased asset gains special asset management plan" to become China's first financial leasing asset securitization products.With the improvement of leased assets securitized products,this financing is gradually show his superiority,only the total amount of the year of 2015 amounted to 57.25 billion yuan issue issue.Although the finance lease asset securitization risk isolation has many advantages,the real tables and other such financial leasing asset securitization increasingly become an important source of finance lease financing,but our financial leasing business as well as a comprehensive securitization costs,taxes and rating and other issues,resulting in China's financial leasing asset securitization did not produce explosive growth.According to statistics,in 2015 China issued credit ABS products,leasing ABS allotted 6.191 billion yuan,accounting for 2%;enterprise ABS product to finance leases for the circulation of goods and the underlying asset is 51.257 billion yuan,accounting for enterprise ABS 29%of total issuance.Articles from finance lease financing needs,analyzes the necessity of financial leasing asset securitization,feasibility and obstacle conditions,the study of existing finance lease asset securitization product's structure,and analyze the impact of financing on the basis of the leased asset securitization factors,the development of financial leasing assets securitization my country Reflections,and by foreign asset securitization successful experience,put forward suggestions for the development of financial leasing asset securitization.