Research On Securitization Of Financial Leasing Assets

Financial leasing enterprises play an important role in the economic and social development of our country.Their characteristics of integration of financing and Commerce play an important role in promoting the upgrading of China's industrial structure and creating consumption hot spots.At the same time,because most of the financial leasing enterprises are small and medium-sized enterprises and non-state-owned enterprises,their strong development momentum is also a great help to the development of small and medium-sized enterprises in our country Power.However,due to the high threshold of bank loans,small financing scale,high financing cost of shareholder financing and peer lending,financial leasing enterprises face the problem of "financing difficulty".In order to make financing easy,securitization of financial leasing assets came into being in China.As an innovative financial tool,securitization of financial leasing assets is of great significance in helping enterprises to solve financing difficulties,improve asset liquidity,transform economic development mode,and enhance enterprise competitiveness.Since 2014 when the CSRC officially issued the guidelines for the pilot of asset securitization business of securities companies(for Trial Implementation),leased assets have been clearly stipulated to be included in the special asset management plan.The development of the financial leasing asset securitization industry in China has maintained a strong momentum,and related products have become one of the mainstream varieties in the asset securitization market of enterprises in China.However,with the rapid development of the securitization of financial leasing assets,risk problems such as repeated mortgage of basic assets,centralized default of related debtors,and leaseholder's leasehold withdrawal are gradually exposed,so it is of great practical significance and urgent to carry out systematic research on the securitization of financial leasing assets.Based on the asset evaluation theory,information asymmetry theory and risk management,this paper systematically analyzes the related problems of the securitization process of financial leasing assets by using the methods of literature research,investigation and case analysis.This paper analyzes the key points of Baoxin leasing phase I asset support special plan,focuses on the cost control,asset pool construction,cash flow arrangement mechanism and risk prevention measures of financial leasing asset securitization,and discusses the operation mechanism of financial leasing asset securitization from the aspects of transaction structure design,internal and external credit enhancement,and risk isolation,and explains the financing The feasibility of asset-backed securitization and the positive role it plays in invigorating the assets and solving the financing difficulties of enterprises are discussed.Based on the successful experience of the first phase of asset-backed securitization plan of Baoxin leasing and the existing shortcomings,the paper puts forward the countermeasures and suggestions with universality,hoping to provide experience reference for the relevant enterprises with the demand of asset-backed securitization and improve the financing in an all-round way The level of securitization financing of capital leasing enterprises can promote the overall healthy and orderly development of the industry,effectively solve the financing problem,and promote the prosperity and development of China's economy.The research shows that the securitization of financial leasing assets is an effective financing tool for enterprises,which can play an important role in solving the problem of "financing difficulty" for small and medium-sized enterprises.At the same time,because this financing mode started late in China,the improvement of relevant legal system and the continuous optimization of market environment promote the further development of the securitization of financial leasing assets.