Research In The Institution Of The SPV In Chinese Securitization

As a new financial instrument, securitization has been widely used in the internationalfinancial market. After entering WTO, our country pays more attention to the capital demandand the perfection of the financial institution, so securitization becomes more important inthe innovation of financial institution. In 2005, Development Bank of China andConstruction Bank of China started the process of securitization, which represents thebeginning of securitization in Chinese financial market.Securitization is meaningful in the innovation of finance: reducing the systematic riskof the whole financial market, transferring the deposit to investment more quickly, activatingthe domestic demand, developing the economy and enhancing the governmental function inthe legal constraint and supervision.However, there are still some difficulties in the development of securitization that weneed the government to build up the related institution. So in this paper.Ⅰdiscuss the coretechnique in securitization——credit enhancement, and the key organization——SPV. Uponthe research of the pattern and goodness of SPV, I make some suggestion to perfect thecurrent law, tax and accounting institution. This paper is meaningful both in the realism andin the theory.