Asset Securitization With Preserving And Appreciating State-Owned Assets Value

With national enterprise reform deepening and modern system of corporation building, how to make State-owned Assets (SA) keep value and add value has become more and more important. This is because SA keeping value and adding value is tightly tied up with the success and failure of national reform and structure adjustment. But there are a lot of worrying problems in preserving and appreciating State-owned Assets Value (SAV). Therefore looking for problems in preserving and appreciating SAV, and putting forward corresponding countermeasures according to present situation of our country have become a new focus. Look back the past ten years, with the deepening reform of SA, some economic actions are frequently used, such as reconstruction, M&A, selling and transferring to others. During this process, however, the losses of SA and inefficient operating problems were not basically solved. The effect is not very good, though these economic actions aim at keeping value and adding value with SA. How to introduce modern economy and finance technology to improve the management actuality of SA, increase the qualities and quantities more and more, boost the strength of the SA. As one of the derivative financial instruments, asset securitization has been recently a hot topic in domestic financial theory and practice realm. It was originated developed in USA then expanded world-widely. Compared with other countries in the world, the research and practice of the asset securitization of our country all lag behind them. And the rage research is narrower, which concentrates on credit asset securitization and bad asset securitization mainly. From the angle of preserving and appreciating SAV, this paper attempt to research the asset securitization as a new operation of the management with SA. Asset can not only optimal collocate the existing stock asset, but also provide incremental funds without increasing the total asset or debt to preserve and appreciate SAV.Firstly, according to present situation, this paper analyzed some existing theories related with preserving and appreciating SAV systematically, and put forward problem existing in preserving and appreciating SAV and reasons that problems bring. Secondly, it has analyzed the general principle and nuclear principle of asset securitization and point out its merit and shortcoming, at the same time advised that SAV securitization. This paper also has discussed the surroundings of SAV securitization and the mode of the SAV securitization. Finally ,it analyzed the realistic problem of SAV securitization in our country and offer the suggestion correlated.