Research On Financing Risk Forewarning Of Asset Backed Securitization Of Expressway

The layout of the national expressway network was passed by the State Council in December 17, 2004.The layout used the scheme combined by radiation and vertical and horizontal network, and formed the"7918"expressway network, which is 85,000 kilometers, and required fund amounts to more of 2 trillion. Such huge investment of capital isn't enough if only from the government, and with the expressway construction cost enormous funds and a long time to gain the income, how to finance is difficult and must be solved immediately.As the late-model financing way, ABS is fit for the features of security, continuous and stability of expressway construction. Meanwhile using the ABS, we can lead home and abroad fund into long-line investment for our the expressway construction, but laws and statutes of our country system is fairly faulty, and the case applying the ABS financing successfully is few, so expressway owner needs to bear very big risk when carrying out the ABS financing.The forewarning of financing risk in the ABS expressway from the highway owner is analyzed. Firstly, from the current situation and future plans of the expressway in our country, the forewarning problem of financing risk in the ABS expressway is posed. Combining financing risk management in the ABS expressway with the idea of forewarning management, the research value and significance is elaborated, and the meaning, structure, operating process of asset backed securitization and its development in our country, forewarning management and method system are introduced. Secondly, the financing risk assessing model is introduced, and the assessing index system is designed, the evaluate method of multiple fuzzy is applied, the financing risk from qualitative and quantitative analysis is defined, and the expressway forewarning signal output system is built. The last Zhu Hai expressway project is analyzed, and the assessing index system by using model on the basis of relevance data is tests, then the tactics against risk is posed; and the whole research and points out the studying direction in the days to come are summarized.