China 's Bank Of Asset Securitization

Asset securitization originated in the American mortgage market in the late 1970s. Since then, it has been further developed all over the world, becoming one of the simple avenues to raise new funds nowadays. In essence, asset securitization means transforming non-liquid assets into portfolios of high liquidity. Therefore, the topic on this is of great theoretical and practical significance. In contemporary China, in particular, the significance of practicing asset securitization is obvious in improving bank operation and capital market development.This thesis consists six chapters as follows:The first chapter is an introduction, which, based on related research in both China and the other countries, proposes the significance of asset securitization as well as research questions of the present study. Moreover, the new perspectives and main research content and methodological strategy have been clearly laid out.The second chapter introduces the basic concepts, classification, characteristics and risks of the asset securitization, and conducts a systematic analysis based on different classifications.The third chapter analyzes the feasibility of asset securitization in China, identifies major difficulties of its development and related policy tendencies, and proposes countermeasures from an environmental perspective.The fourth chapter deals with the structure and the participators of asset securitization and makes an analysis of main methods of product pricing.The fifth chapter presents case studies of asset securitization and proposes relevant countermeasures and suggestions by analyzing both domestic and foreign cases.The sixth chapter concludes the study by proposing major breakthroughs and developmental modes of asset securitization in Chinese banks and identifying other related issues that require further exploration.The contribution of this thesis can be summarized into the following three parts:First of all, through an analysis of the advantages and disadvantages of asset securitization in contemporary China, its successful cases in foreign markets and its exploration and practices in the domestic market, the author of this thesis has identified Mortgage-Backed Securitization and Bad Assets Securitization as the main breakthrough points, and acknowledged that asset securitization market should be carried out under the guidance of the government in China.Secondly, through a two-dimensional comparative analysis of various asset securitization implementation programs, the main problems in the course of China's asset securitization process and the main obstacles in the laws, regulations and the market environment have been identified. Accordingly, corresponding countermeasures have been proposed.Finally, by a comparative analysis of domestic and foreign case studies, the author of this thesis has systematically structured an analysis frame for bank asset securitization from various perspectives such as system vicissitude, law, accounting, tax revenue, credit and so on. This thesis has broadened the theoretical research on asset securitization, and provided significant references for theoretical research and practical operation of asset securitization in Chinese banks.