Research On China Commercial Mortgage-Based Securities

In China, asset securitization has being developed for more than 10 years, with the category of product increasing, and the scale of issuing security becomes larger. But the development of Commercial Mortgage Backed Security(CMBS) remains stagnant,which may be of significant value to the reform of commercial banks, commercial real estate financing and expand the financing channels. It is advised to explore enthusiastically deal structure and mode, and devote to a the whole people participating and sharing commercial real estate financing system, in order to make minority investors share the profits of the commercial real estate development. With the development of commercial real estate market, surely, CMBS has a lot of room to develop.The first part is introduction, including research background, summary of related theories, research contents and research mode. The second part Introduces related concept about CMBS, and analyzes the necessity and feasibility of CMBS in China. The third part is about the preliminary design and analyze of CMBS. The fourth part analyzes and summarizes China Minsheng Banking Corp CMBS program. The fifth part analyses a series of problem and obstacle of CMBS. The sixth part comes up with vigorous steps to solve the above problems. The last part is the conclusions, then prospects about the further develop.