Study On Asset-backed Securitization Applied In Infrastructural Project Financing

With the development of our country economics, the problem that the infrastructural investment is not enough has gradually appeared. In a way, this problem has been the "choke point" that restricts the development of the economics. It has became a very important problem that how to improve the ways of financing for the infrastructural investment and enhance the infrastructural project construction and investment. Asset securitization is the most important project about finance creation in international finance area in recent years. Compared with traditional stock financing and bond financing, it will be more appropriate, and provide an effective financing way for the infrastructure projects which needs a large of capital investment.At present the research on Asset securitization mainly focus on the bad assets securitization and credit assets securitization with banking institution in our country,and much little work has been done in the field of infrastructural asset securitization.or is that the extent and depth are limited.The paper tyies to do some job in this espect,and at the beginning of experimental practice for Asset securitization, carry out some theory research before the day when it practices widely in domestic.The paper adopts comparative and standardizing analysis to study,and spreads the discussion from the view that Asset securitization is a new instrument for the infrastructural project financing. The aim is to seek a feasibility model that suits for our country present stage.The paper consists of six parts: Part I:The history of Asset securitization and current development situation and the significance of the selected topic , train of thought , research method and fundamental frame for the thesis. Part II:the introduction to the concept and principel of Asset securitization. Part III: The feasibility study of infrastructural assets securitization. Part IV: the avail and risk analysis for AS. Part V: It is the research emphases of the thesis, and have suggested under the present system condition in our country, infrastructure project finances being able to adopt offshore Asset securitization and domestic feasibility pattern, and through analyzing relevant case, brings forward three models with the core of SPV. Partâ…¥: Some suggestions on the built of legal system and the marketplace frame.