Case Study On Asset Securitization Of Beneficiary Rights Of Tianjin Housing Group

Since China announced the comprehensive pilot list of new urbanization in December 2014,the economy has developed rapidly,and it has also driven the process of industrialization and urbanization.In this context,housing prices have also risen steadily.The increase of urban residents,limited urban land area and high housing prices have led to a large number of urban low-income people facing housing difficulties and solving the housing difficulties of low-and middle-income families in cities.It has become a top priority for people's livelihood and soci al stability in recent years.To this end,China vigorously promotes the construction of affordable housing projects and guarantees the people's desire to settle down in the city.With the unprecedented increase in funding for the construction of affordabl e housing projects,it has become the main bottleneck restricting the construction of affordable housing in China.As far as the current source of funds is concerned,it is mainly the financial input of the central government and local governments,and thi s source cannot fully compensate for the required funding gap.At the same time,the traditional financing model has been difficult to meet the current funding needs of urban affordable housing construction,so our government and real estate companies must try new financing methods.Nowadays,China has begun to use the new method of asset securitization to meet the capital needs of the real estate industry construction.However,how to design the security housing asset securitization products,what needs to be paid attention to,and some areas need improvement.A place worth thinking about.Therefore,this paper selects Tianjin,which is in the forefront of the construction of affordable housing in China.The typical case of financing when the city solves th e financing difficulties of affordable housing--"Tianjin Residential Insurance Group Guaranteed Housing Trust Benefits Asset Support Special Plan",from Case presentations were made on the background of the issuance of special opportunities,the basic situ ation of the special plan and the current status of the special plan.Based on the literature research and case introduction,the case is analyzed,and the financing motivation,financing characteristics,financing effect,the reasons for the success of th e case and the limitations of the case are analyzed in depth.The case of this paper is representative,so the case description and analysis summarize the merits of the case and related policy recommendations.In the conclusion of the case,the financing of affordable housing summarizes three aspects: asset securitization brings new channels for the financing of affordable housing;always guards against the risk prevention and control awareness of asset securitization products and Financing channels.