Research On The Financing Of Corporate Accounts Receivable Asset Securitization

Asset securitization started as the earliest mortgage-backed securities issued by the United States in the 1970 s.The practice of asset securitization in China started in 1992 and has been developing for over 20 years.Asset securitization has experienced several twists and turns in our country.From the initial exploration of a few companies to the establishment of the legal status of the government by law in 2005 and the pilot program,the subprime mortgage crisis swept the world in 2008,and our country was temporarily suspended Assets securitization pilot,academia for asset securitization also appeared some objections.It is not until 2012 that China has resumed the securitization of assets and expanded the scope of its pilot projects.Securitization of assets has also been expanded from the sole securitization of bank credit assets to enterprises in the past.Since then,the scale of China’s asset securitization market has been continuously expanded,the market vitality has gradually increased,and the market’s normativeness and professionalism have also been increasingly improved.Assets securitization of accounts receivable,as an innovative financing mechanism,reorganizes the existing assets of the enterprise that lack of liquidity and is expected to generate stable cash flow in the future,thus creating a variety of receivables refinancing,improving New Mechanism of Enterprise Asset Liquidity.It has created new ideas for the development of corporate finance and provided new channels.As a powerful large-scale central government,Zhenhua Technology occupies an important position in China’s electronics industry.Asset-backed securities financing of accounts receivable that Zhenhua Science and Technology is involved in has a broad representation and promotion significance under the current economic system of our country.This paper first introduces the definition,characteristics,categories and other related theories of asset securitization,and the origin of asset securitization,the development history and current situation of western countries and our country,analyzes its operating mechanism,Some accounts receivable are packaged and transferred to China Electronics Corporation,the parent company of China Electronics Corporation.After the transfer of China Electronics,a special asset-backed plan was set up through securities companies,asset-backed securities were offered to eligible investors and listed on the exchange As a case study,account securitization business introduces the general process of the incident and the basic process of this special plan,and analyzes the operation mechanism,cash flow,risk and countermeasures of this asset securitization,especially in terms of credit enhancement and In terms of risk prevention,a large number of effective measures have been taken to increase the credit rating of asset-backed securities and effectively prevent various types of risks.This article focuses on this analysis and puts forward relevant suggestions to further promote the entire capital market.Other enterprises to provide an asset securitization financing reference to promote the gradual development of China’s capital market exhibition.