The Development Path Of China's Asset Securitization Products

As a financial innovation tool,asset securitization was born in the United States and widely recognized by the global financial markets.Its structural design,bankruptcy isolation,credit enhancement and other ways to help financial institutions to achieve the transfer of risk,increase liquidity and other purposes,and provide a new direction for the innovation and development of financial markets.However,on the other hand,this new way of operation also brings new risks to the market.With the accumulation of risk,the probability of risk concentration outbreak is higher and higher.The subprime mortgage crisis in the United States in 2008 has caused serious harm to the global economic development.After the subprime mortgage crisis,the asset securitization market in the United States did not collapse,but a series of related measures to maintain and adjust the financial market into a new stage of development.In China,asset securitization starts late and there is a certain gap between China and the United States in the issue type,size,operation process,rating agencies and regulatory mechanisms.But in view of the continuous development of China's financial markets,the development prospect of asset securitization is broad.Thus it is of great significance and research value to learn from the development experience of the United States and explore how to develop asset securitization in China to promote the healthy development of China's financial markets.This article regulates the current situation of the development of asset securitization market in China and the problems encountered in the further firstly?Then the development process of asset securitization in the United States is combed,the characteristics of various asset securitization products in the United States are analyzed,and the reform of the financial regulatory framework of the United States government after the subprime mortgage crisis is compared.Finally,drawing on the experience and lessons before and after the subprime mortgage crisis in the United States and comparing the current market environment of asset securitization in China,the writer puts forward the following suggestions for the development of asset securitization products in China: Speeding up the development of mortgage securitization in real estate industry,promoting the setting of special purpose carrier in asset securitization and promoting standardization Innovation add option structure design to increase liquidity and strictly restrict the development path of credit chain of asset securitization products.