The Research On The Application Of The Securitization Of Box Office Income In China’s Film Industry

The rapid advance in China’s urbanization process,urban residents purchasing power gradually released and rising proportion of young consumers in the background,as one of the cultural entertainment industry,film industry,has been hitherto unknown development opportunity.At the same time,the film industry internal competition increasingly fierce,the market structure is facing tremendous changes,if you want to get ahead in the film industry and many other film companies in the competition,have more working capital support is the key to success.Compared to the film industry in the current huge financing needs,the traditional way of financing has been difficult to solve the urgent needs of the financial needs of the film industry,the film industry is in urgent need of new financing channels.Due to the movie box office income and asset securitization operation can be highly fit,so this new way of financing,it is very worthy of application and promotion in the film industry.On the current situation of China’s film industry,stellar Holdings has introduced corresponding box office revenue securitization products in August 2015,which has a great effect on the company’s financing pressure relief.However,the box office revenue securitization if we really want to make the film industry can be widely used,also must break the credit enhancement and credit rating technology,policies,laws and regulations,risk control,structural design and other aspects of the limitations and shortcomings,how to realize the key difficulty and problem solving,worthy of detailed discussion and research.Therefore,based on the stellar holdings of securitized products issued receipts of the case as the analysis object,in the review of related theory of film industry asset securitization and literature,to the basic situation of the case as the breakthrough point,a comprehensive analysis of the issue of the product of stellar holdings because of underlying assets,quality,project risk and the preventive measures,and related special programs.In combination with the rich data chart analysis,found the advantage of this product is to revitalize the illiquid assets to meet capital requirements,and reduce financing cost and financial risk,and increase financing channels,shorten the cycle of the capital;the problem is: the lack of government policy support,lack of relevant laws and regulations,securities the design capacity of wind control mechanism is not perfect and related products is weak.Aiming at theabove problems,this paper proposes to increase the film industry and asset securitization policy support,the establishment of the film industry asset securitization special laws and regulations,improve the film industry asset securitization risk control mechanism,enhance the design capability of the film industry asset securitization products policy recommendations.