Research For Finance Leasing Assets Securitization In U.S. Dollar In Shanghai Free Trade Zone

Due to economic crisis caused by Lehman Brothers'bankruptcy. "Assets Bask Securitization" (ABS) has been received frequently attention by financial industry in China. The creative financial instrument was not only to liquidate the long-term credit assets in the world, but also blasting fuse of finance crisis in 2008, which expanded crisis of real estate in USA into whole financial system, and led to global economic crisis. Though ABS brought the disastrous attack, and global economy is still under dark of economic crisis, the positive function of ABS for financing has been caught increasingly more attention. After "4000 Billion" stimulus package in 2009, huge amount of capital was injected into industrial entities through credit method, which forms large scale of credit assets and local government bonds. But nowadays these assets are seeking a way to be liquidated. Because of ABS's positive aspects for releasing credit assets, more and more financial institutions have been involved in the field of ABS. Except credit assets from banks, a new financing method-"finance leasing" has been involved in ABS in these years.The dissertation focuses on finance leasing in Free Trade Zone (FTZ). By product design with ABS, the company tries to sell ship leasing assets in USD to institutions and private investors, in order to provide the investors in China with USD investments and solve the USD financing problem for finance leasing enterprise with linking the USD capital with demand for USD financing. When issuing non-standard ABS, big finance leasing enterprise enhance ABS's liquidity by means of their credit, in order to attract these investors with different duration preference.The essay proposes finance leasing enterprise solve the problem of development constraint due to too big scale of assets, which is practical value. After analysis for the real case, the essay is to elaborate the whole procedure of trade structure, ABS and financial calculation. It demonstrates feasibility of USD leasing Assets-back Securitization with financial estimation and business target. By using creative sell-backing method, it solves the liquidity problem of ABS. It fills the gaps of ABS in FTZ, and offers theoretical basis and operation guide for popularizing new finance product.