The Research Of Assets-backed Securitization Models In The City Infrastructure

As China's economic development, accelerate the process of urbanization, China's city infrastructure construction funding shortage has become a constraining China's rapid economic growth in the"bottleneck". As the economic and technological infrastructure of legal and policy dimensions of various factors, China's bank loans and other traditional means of financing have been unable to meet the needs of the construction funds. To broaden it in the financing channels and methods is imperative as a backdrop; the introduction of asset securitization to finance infrastructure projects is of far-reaching significance.Asset securitization as a financial innovation, first originated in the 1970s, the United States, it is currently the most advanced technology innovation. Asset securitization financing may be less liquid stock of city infrastructure assets into cash, for its construction to raise large amounts of funds, this financing tool for the application of market mechanisms in the financial markets deepening the development of the product, optimize the financial markets on the allocation of resources, is a more efficient way of financing.In this paper, I studied the asset securitization of China's city infrastructure from several levels. First of all, on the basis of facilities and asset securitization's theory and principle, analyzed the development process of the asset securitization; and secondly, on the city infrastructure asset securitization financing a feasibility analysis, the key to China for assets based on the choice, whatever in terms of the number of scale, technical characteristics and choice of assets based on the conditions and standards, it would be more appropriate to take stock of the assets again; and then the basis for different assets to three different transaction structure, and focus on the future earnings of city infrastructure asset securitization financing model for a more specific design and made a model of each of the characteristics and advantages, and on this basis that a comparative analysis , proposed to speed up China's corporate model of operation and asset securitization; Finally, according China's laws and policies, analysis of market conditions in China's urban infrastructure asset securitization and the obstacles and put forward specific measures to speed up China's asset securitization the localization process.