Study On Asset-Securitization For Micro-credit Company Under Industry & Finance Combination Mode

After 20 years' development,micro-credit companies have become one of the best intermediaries of financing for individuals and small and micro-enterprises in urban and rural areas.In recent years,micro-credit business has gained rapid progress and embodies different features in different areas.However,its overall strength remains weak and it starts to become a short-term business.This is typically true in the current circumstance where the financing constraints remain to be the obstacle and the current financing channels are short of sustainability.As a structural financing mode that aims at optimizing the allocation of financing resources and activating the stock of assets,asset securitization is an effective approach to alleviating micro-credit companies from the financing dilemma.However,due to the operating mode and the specialty of the micro-credit companies,asset securitization is faced with many constraints,such as low-quality underlying assets,high credit risk and high operating costs.Given the special position and financing qualifications of micro-credit companies,commercial banks under the industry and finance combination mode play an extremely important role in asset securitization.This thesis studies the asset services of commercial banks,which serve as the leading force in asset securitization of micro-credit companies,including businesses like product design and asset screening.It also makes a case study on China Resources Bank of Zhuhai(CRBC)and provides a specific scheme to conduct the asset securitization business with the bank serving as the leading force.