Research On The Path Of China's Securities Companies Participating In Asset Securitization

In 2016,asset securitization market in China present a development of rapid expansion,stable operation,and lots of innovation.Credit asset-backed securities(hereinafter referred to "credit ABS")issued normalized,enterprise assets supported special plan(hereinafter referred to " enterprise ABS")is growing rapidly.The author first finish reading the domestic and foreign literature related to asset securitization as theoretical support,after understanding the history of the asset securitization in our country,especially the path of the securities enterprise ABS evolution.After that put forward the policy suggestions to promote the securities companies in asset securitization in our country from multi-angle research.Looking forward to contribute to the development of the business of the securities company and after study.This article first introduces the concept,development background and method of asset securitization.Domestic and foreign literature review and theoretical analysis,the theory of asset securitization related literature at home and abroad combing research summary and classification,and then analyzes the relevant theories of asset securitization more highlights the significance of this article.This paper reviews the development of securitization in China,and analyzes the detailed steps of securitization of securities companies.This paper also explains the positioning and development path of securitization of securitization companies.In understanding the path choice of securities companies in asset securitization,in this paper,the securities company involved in the current situation of asset securitization,asset securitization environment is analyzed,and introduces the development of the foreign advanced experience.In order to further quantitative analysis of the securities companies involved in the condition of asset securitization,this paper set up index analysis of the securities companies in asset securitization potential business ability,this article through the factor analysis to the 17 of 92 securities companies selected financial indicators into six factors and on this basis,the clustering analysis.In the clustering results were compared with status quo of the asset securitization business of securities companies,securities companies is asset securitization business potential not fully discover the phenomenon of put forward the main problems,including imperfect law,the securities company involved in asset securitization insufficient profit and the secondary market liquidity,etc.Finally,the author focuses on the main problem of asset securitization in our country,on the basis of principle analysis,draw lessons from foreign experience and the research of scholars both at home and abroad,according to three main problem the reason of plane analysis and put forward the specific legislation,broaden the scope of underlying assets,development of small and medium-sized enterprise asset securitization products,integrated market,foster the subject of trade policy recommendations.