A Scheme Design About Urban Rail Transit Asset Securitization

With the advancement of urbanization,China's urban population has grown rapidly.With the improvement of people's living standards,the number of motor vehicles in China has also increased year by year.This double pressure has caused traffic congestion and pollution problems in major cities in China more and more serious.In recent years,the development of urban rail transit has alleviated the traffic jams and pollution problems in major cities to a large extent.However,due to the characteristics of urban rail transit,the financing of urban rail transit companies has always been a major problem.The drawbacks of the traditional financing model have already been highlighted,which will not only cause great pressure on the local government finances,but also be detrimental to the sustainable development of China's urban rail transit enterprises.How to solve the financing problem of urban rail transit companies and reduce government financial pressure has become a bottleneck that must be overcomed in the development of urban rail transit in China.Based on the current positioning of China's asset securitization function,the formation of a market scale,the continuous enrichment of basic asset classes,the significant increase in liquidity,and the combination of market availability and bond market expansion,this paper expects to use the asset-backed securitization approach to integrate rail transit infrastructure.Combining the characteristics of rail transit financing and taking Nanjing as an example,Design Nanjing Nanjing Metro Line 1 ticketing proceeds rights asset securitization program from the perspectives of asset pool construction,cash flow measurement,product structure design,SPV establishment,and credit enhancement measures,etc.I hope to be able to open up new financing channels to solve the financing problems of China's urban rail transit companies in rail transit construction.