Application Reseach On ABS Of Tourist Industry In China

As one of the national strategic industries, the development of the tourism industry can pushforward regional economic transformation and promote economic growth of the nation. However,most of the tourism investment has such features as bigger amount, longer cycle and greater risk,due to which, traditional financial instruments are difficult to meet the financing needs oftourism enterprises. Asset securitization business, which has been developing rapidly in recentyears, can largely solve the problems of financing difficulties in tourism industry.Based on this, the research study the case of Special Asset Management Plan on AdmissionCertificates of the Happy Valley, trying to extract the key aspects of asset securitization pushingforward the tourism industry and giving advices. The overall operation and the key steps of theproject are introduced firstly in this article. And then, such aspects as corporate motivation, dealstructuring, financing costs and characteristics of Usufruct Asset Class securitization areanalyzed. At last, the article summarized the general utilities and deficiencies that can be learnfrom the project by the industry. Projects provide valuable experiences in choosing thefundamental assets, improving the governance structure, setting up measures to increase trustand so on for the industry. However, Prudence are revealed obviously from the project design,which infers that there are still difficulties to fully extend the model of the project to usufructasset class securitization among all tourism enterprises. Aiming at tourism enterprises thefundamental asset have not yet up to standard, the article designed a modified plan to meet theirneeds.Finally, the article analyzes the advantages and obstacles of implementing assetsecuritization by examining the status quo of tourism industry, and provides some relevant policyrecommendations accordingly, such as continuous promotion of the tourism industry,specialization of financial market microstructure body, and development of laws, regulations andthe market mechanism. By implementing these measures, asset securitization can lay a goodfoundation to develop the tourism industry.