Credit Asset Securitization In China’s Financial Market Development And The Practice Research And Analysis

Along with the great popularization and rapid development of the credit card business in China in the past 20 years, as a type of convenient payment tool, the ponderance of credit card in the consumption credit field has increased to a level that is incomparable with the past. While it brings great benefits to the issuing institutions, it also creates increasingly great capital operation cost; based on the needs of making profit, these issuers urgently need to improve efficiency in the use of funds and reduce the cost of financing; under the increasingly normalizing trend of the securitization business, securitization of credit card asset will become one of the most feasible and effective ways to solve the financing problem of the credit card issuers.This paper first describes the related theories about securitization and the business of securitization of credit card asset, and introduces its application in the international market, as well as the reflection and adjustment for this kind of products after the financial crisis; then, as for the status of China’s credit card market and the characteristics of the products and the trend of the current financial reform, this paper analyzes the good opportunity that the credit asset securitization products are currently facing and the necessity of credit asset securitization; at the same time, this paper also further analyzes the existing challenges and problems of credit card asset securitization, and put forward the corresponding suggestions and countermeasures; finally, this paper analyzes the operating framework of credit assets securitization products at the actual operation level, especially analyzes the assets pool, credit increase mode, risk attribution, pricing and cash flow, and discusses and foresees them with domestic and foreign related empirical cases.This paper adopts the methods of combing theoretical research with empirical cases, combining qualitative analysis with quantitative analysis and the comparative approach to analyze the feasibility and the practice research on vigorously carrying out the securitization of credit card asset, and it also put forward the framework for concrete implementation, the pricing method and the relevant suggestions.