Forest Resource Asset Securitization Research

It is no deny that forest resources have played an important supporting role in ecological system.Unfortunately,afforestation and ecological protection were considered as social welfare for a long time,in addition,the development of forest funds needed almost entirely borne by the government,thus a shortage of funds seriously affected the development of forestry.After the country strongly emphasized ecosystem construction,there were a number of industrial projects to be stopped due to missing the ecological indicators,in fact,it promoted the research and practice of forest resources asset securitization indirectly.However,there were some reasons not to be analyzed in depth,such as the complexity of forest resources and social capital unwilling to invest in the construction of forest,so that forest funds for construction has not been solved well all the time.Therefore,pointing out a new financing approach and a prospective investment in forest for investors would be crucial.To solve the financing of the construction of forest resources,the paper analyzed the current research on this issue at home and abroad,on the basis of that,it carries out targeted study.Firstly,the basic situation of forest resources is analyzed which is combined with Forest Resources Asset Securitization theory and the actual situation in China.Due to the different categories of forest resources securitization,there is a great difference between them,so the paper puts forward that a step-by-step approach should be adopted and the principle of starting with easy things first should be adhered to.At present,timber,economic forests and firewood can be securitized assets,and after the capital markets continue to improve,other categories of forest will be promoted asset securitization.Secondly,the necessity and more favorable conditions in the implementation of the forest resource asset securitization are demonstrated to strongly support in financing of forest resources construction.Then,the risks of forest resources asset securitization take into consideration,and it proposes different types of risk,including 9types basic risks and 3 different classifiedrisks.The risk will be turned into the mathematical quantitative risk assessment from conceptual evaluation of risk switches to by using Entropy Measurement,aiming to reducing the human factors.Finally,a case study,Yong'an Forestry Forest Resources Asset,examined the actual effect as the result of the paper.The study has the following main conclusions: 1,according to the study of classification of forest resources,assets securitized is prior to commercial forest,followed by the public welfare forest.2,it is affirmed the necessity and feasibility of the implementation of forest resources asset securitization;3,the forest resources asset securitization risk classification and evaluation is practical.In short,the purpose of this study is clear,the results are theoretical and also practical.Besides,it is not only for large forest resources,but also to adapt to small forest resources.