Research On Financing Strategy For Asset Backed Secuirtization Of Changchun Municipal Heating Company

City heat supply service is an important part of city public service, in thenortheast of China, the annual heating time of up to six months, improvement of citycentral heating system and heating quality of service to the city infrastructureconstruction and residents living in housing have great impact. Heatingenterprises the main business is to provide winter heating service for urbanresidents and business units. At present, with the continuous development ofChina’s market economy and people’s life level is increasing day by day, the survivaland development of heating enterprises are facing great pressure. The main problemis the subject to funding constraints in the development of business and. Whether toexpand financing channels, to explore the most suitable for heatingenterprises financing strategies for enterprises to solve the funding problem is ofgreat significance.Therefore, this article in Changchun City Heating Company as the researchobject, the financing strategy as the research content, the financing proble of heatingenterprises were discussed, first of all from the current financing situationof Changchun heating company analysis, find some problems in thecompany’s current financing, such as financing way is too single, the amount offinancing can not meet the capital demand. And the analysis of the causes of thefinancing problems, then through the comparison of several kinds of currentfinancing mode of heating enterprises can choose the operation, so that the enterpriseasset securitization is the ABS financing mode should be able to solve the financing problems of enterprises. The theoretical basis, asset securitization business andoperation mechanism based on the core principle, designed to meet the fundingneeds of securitization financing scheme of Changchun heating company, and in thelight of the financing plan in the course of the operation of the technicaldifficulty and risk prevention measures to make the analysis, countermeasures.This paper mainly through the literature analysis method of drawing lessonsfrom the research results of domestic asset securitization business operatingenvironment and the current situation of the research in references, heatingenterprises to solve the capital needs of Changchun heatingcompany through securitization theory support and formulating theoperation program. In addition the common financing method of comparativeanalysis between the heating enterprises optional differences, advantages anddisadvantages and feasibility of the financing way of contrast, screening outthe optimal operation strategy, at the same time, in order to make the researchmore practical significance and the related personnel of the financial managementof Changchun heating companies, brokerage asset securitizationbusiness staff conducted interviews. Since the summer, winter coal storage in thelaying of pipe network and equipment renovation funds use, heatingenterprises often large-scale capital investment in the two or three quarter of theyear. The company is based on the residents of heating costs as the main businessincome, usually at the end of the fourth quarter to make cashflow income payment. Therefore, capital demand and the use of typical seasonalcharacteristic, universal industry capital operation.Changchun City Heating (Group) Co. Ltd is a veteran ofthe Changchun city state-owned and large company, a typical characteristicof heating enterprises, representative. Through the research on the assetsecuritization financing strategy, hoping to make the heating enterprises to get new ideas for financing, expansion of existing financing channels, to findnew financing instruments, to solve the capital bottleneck effect. Assetsecuritization is an important innovation and practical significance to explorethe heating enterprises financing in china.