Research On The Design Of Asset Securitization Financing Scheme Of Lanzhou New District Urban Investment Group

Recently,along with the deepening of China's supply-side structural reform,the State Council has successively issued relevant policies to strengthen the guidance and regulation of the real estate market in order to promote the healthy development of the market economy.At the same time,the loan policies of financial institutions have been tightened,and the loan approval for the real estate industry and infrastructure construction industry is extremely cautious.With the improvement of the financial supervision system,financial supervision institutions have continuously strengthened supervision over corporate bonds and multi-layer nested financial products.Local government financing platforms are generated due to the continuous expansion of demand for supporting public services and local public infrastructure construction.Therefore,the financing of local government financing platforms is confronted with severe tests.The daily operation and transformation development need a large amount of capital guarantee,which requires the financing platforms to expand new financing channels.As an innovative financing tool,asset securitization has developed rapidly in China in recent years.The assets held by the local government financing platform are in line with the requirements of asset securitization financing for basic assets,and at the same time meet the requirements of state-owned asset management of "reducing financial leverage and activating existing assets".Asset securitization plays an increasingly important role in the process of financing platform transformation.Hence,this paper takes Lanzhou New District Urban Investment Group as an example to formulate an appropriate securitization financing plan for it,and the significance of the study is to expand new financing channels for Lanzhou New District Urban Investment Group and to provide practical reference for other companies in the same field to carry out asset securitization financing business.By adopting literature analysis,case analysis,qualitative analysis and quantitative analysis,it specifies the research background and significance,research content and questions,research methods and paper structure of this paper;Secondly,it elaborates the definition and related theories of asset securitization,summarizes the relevant research achievements at home and abroad,and gradually analyzes the financing process of asset securitization;Thirdly,it combs the basic financing situation of Lanzhou New District Urban Investment Group,points out the financing problems it faces,and puts forward the necessity and feasibility of carrying out asset securitization financing;Finally,According to the financial and valuation results of City Construction Investment Group in the New District of Lanzhou,a reasonable and feasible asset securitization financing program is designed combined with the evaluation of the future cash flow of basic assets.The financial benefits and potential risks are analyzed,and the safeguard measures for the successful implementation of the financing program are defined.In conclusion,under the condition that the traditional financing channels cannot meet the financing needs,the future local government financing platform can make use of the advantages of flexible construction methods of asset securitization and lower financing costs to expand in line with the current policy situation.What's more,it can also provide effective ways for enterprises to get rid of financing difficulties.