Research On Balance Payment Asset Securitization Of HD Real Estate Chongqing Co., Ltd

Since the reform and opening up,China's real estate enterprises have developed rapidly,and the real estate economy has gradually occupied an important position in China's national economy.However,in the process of rapid expansion of real estate development,the debt level of real estate enterprises has been rising to the highest level in recent years.China's real estate enterprises are facing severe problems in the process of continuous development,which require them to actively expand financing channels and seek financial innovation to create new financing methods.Nearly forty years,asset securitization as a financial innovation of the more important in the financial sector financing tool,has gradually developed into one of the popular financing on the capital market,the housing balance payment way of asset securitization helps to revitalize the assets,reduce the pressure of the receivable,reduce the financing cost and optimize the financial situation.This paper takes the balance payment asset securitization financing project of HD real estate chongqing co.,LTD as an example.HD real estate group occupies an important position in China's real estate industry.The analysis of this case will have certain representativeness and reference significance in the real estate industry.This paper first introduces the HD real estate co.,LTD.,chongqing housing balance payment basic principle of asset securitization,through analyzing the characteristics of the underlying asset,transaction structure analysis,the analysis of the hierarchical structure of asset securitization products,as well as the analysis of the special plan of asset credit rating,summed up the analysis of the special plan for the asset-backed HD chongqing real estate co.,LTD.In the process of implementation of asset securitization,etc is very careful,overall structure arrangement is relatively reasonable,but there are still many problems need to improve.Therefore,this paper will analyze the five problems existing in the asset support special plan: asset securitization products are faced with market price fluctuations,insufficient credit promotion methods,incomplete risk transfer,lack of corresponding exit mechanism,and legal and policy risks.Finally,through the comprehensive analysis of this case,this paper proposes the enlightenment for HD real estate chongqing co.,ltd.and the real estate industry to issue purchase balance payment asset-backed securities: 1.The external credit improvement mode should be increased to cultivate high-quality basic assets and improve the quality of basic assets pool;3.Make full use of market allocation risks;4.Set up early termination mechanism;5.Establish a professional compliance department,deal with legal issues timely,adapt to the new legal environment and maximize the interests of issuers and investors.This analysis of balance payment asset securitization of HD real estate chongqing co.,LTD.Provides ideas and Suggestions for domestic real estate enterprises to use balance payment asset securitization for financing,and promotes the healthy and stable development of China's real estate economy.