The Research On The Asset Backed Securitization Of State-owned Enterprises In Northeast Of China

Under the background of the 18 th National Congress of the Communist Party of China(CPC)and the reform of asset securitization,this paper focuses on the regional economy of Northeast China and absorbs the current scholars' research on the reform of state-owned enterprises in Northeast China,discusing how to Open the Reform Pilot from the Capital Structured Reform in the Context of Structural Reform in Northeast China.From new perspective to solve the problem of low efficiency of state-owned capital operation.First,this paper introduces the definition of asset securitization and the type of the current securitized assets,and compares the financing channels of asset securitization with equity financing and bond financing.On this basis,starting the financing analyze of asset securitization of state-owned enterprises.Then the paper listing some financial data of state-owned enterprises,discusseing the status of capital inefficiency of state-owned enterprises and discusses the purpose and motivation of securitization reforming.Then the writer will focus the paper on the quo of the state-owned enterprises reforming in the northeast region,and how to complete the task of revitalizing the stock capital under the background of reform of supply side.Analysing the Necessity and Feasibility of Carrying out the Reform of Asset Securitization in Northeast State-owned Enterprises.The necessity means the state-owned enterprises in the northeastern region have requirements of development,and also contains the goal of national regional economic revitalization policy on the northeast,that is,making the inventory assets efficient and improve the reform of supply side,at the same time to promote the perfect development of capital markets.At the same time,on the basis of the discussion of the general model of asset securities households in the second chapter,the paper analyzes the application of asset securitization in state-owned enterprises in Northeast China,from cash flow analysis to asset pool construction,credit enhancement,investor selection and pricing,Rating agencies,follow-up management to conduct a comprehensive discussion analysis.Through the analysis of the particularity of the northeast region,in the last one,this paper puts forward some suggestions to deal with the reform of asset securitization in Northeast China.It is necessary to make the construction of the system in the region of the micro-macro in the northeast region and improve the government promotion and supervision mechanism so as to make better use of the capital market reform to promote the reform of the state-owned enterprises.