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Research On Legal Regulation Against Financing Risks In Asset Securitization Of PPP Projects

Posted on:2019-11-18Degree:MasterType:Thesis
Country:ChinaCandidate:X SunFull Text:PDF
GTID:2416330545462942Subject:Science of Law
Abstract/Summary:PDF Full Text Request
With the implementation of “the Belt and Road Initiatives”,the PPP projects ushered in a new development.2015 is called as “the first year of PPP”.In 2015,the State Council and related ministries and commissions issued a series of policy documents.Local governments follow up actively and promote the Public-Private Partnerships vigorously.On December 26,2016,the National Development and Reform Commission,the China Securities Regulatory Commission jointly issued “Notice on promoting the related work of the asset securitization of the government and the social capital cooperation projects in the traditional infrastructure field”.They will promote the financing of the Asset Securitization of PPP Projects jointly.This marks the start of the Asset Securitization of the PPP Projects in China.The Asset Securitization of PPP Projects is an innovative way to realize the finance of PPP projects.It is characterized by convenient financing,complex transaction structure and numerous of participants.However,the most prominent drawback is that financing risk involves a wide range and have a deep influence.Therefore,the key to finance stably for the Asset Securitization of PPP Projects is to regulate the risk of financing effectively.There are various ways to regulate the risk,and the risk regulation in the financial field focuses on the arrangement of the product design and transaction structure of the PPP projects.The key point of the legal regulation lies in the design of legal system and the arrangement of financial supervision system in Asset Securitization of PPP Projects.In addition,how to share the risk among the participants in PPP projects is really important.The Asset Securitization of PPP Projects is a new measure of the finance in PPP projects under the China's New Normal.How to regulate the financing risks in PPP Projects of Asset Securitization is the key to guarantee the financing of PPP Projects.It is also an important part of preventing and resolving major risks.The financing risk of Asset Securitization of PPP Projects is different from the traditional asset backed securitization by the addition of government and social capital.This paper focuses on the risks of asset securitization when the government participates in the PPP Projects of Asset Securitization as the double identity of the collaborator and the supervisor.The originality of the article lies in the analysis and legal regulation of the default risks and the risk of credit rating.In addition,how to systematically analyze the financing risks in PPP Projects of Asset Securitization,and regulate the risks from the legal system design and financial supervision,and share the risks reasonably among many participants,is a difficult problem for the article to solve.The research on legal regulation against financing risks in Asset Securitization of PPP Projects will provide a stable legal environment for it,which does not lose the regulation of the law,the effective restraint of supervision,and the vitality and advantages of the innovative financing.
Keywords/Search Tags:PPP projects, Asset securitization, Financing risk, Legal regulation
PDF Full Text Request
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