SECURITZATION AND ITS PRACTISING IN CHINA——The Case Study Of Zhuhai Highway Item

Asset securit izat ion is a structured financing mechanism thattraces its origin to the American Mortgage securities market inear1y 1970s. As one of the significant financia1 'innovations in the20th century, securitization is reshaping the financia1 serviceindustry in USA and other parts of the wor1d and used wide1y inwestern deve1oped countried. This paper studies entire1y thehi story and operating mechanism of securit ization in westerncountries and on this base, discusses the substantia1 significanceof introducing securitization in China, and through ana1yzing thepractice case of securitization in China--Zhuhai Highway item,educes an en1ightenment of practising securitization in China.