The Research On Green Asset Securitization Financing

The report of the Nineteenth National Congress pointed out that setting up and practicing the concept of green mountains and rivers is Jinshan and Yinshan,adhering to the basic national policy of saving resources and protecting the environment,and forming a green development mode and lifestyle.Developing green finance to boost the renewal of environmental protection industry is an important way to implement the concept of green development.Environmental protection industry has a large investment and a long payback period.The nature of quasi-public goods requires the joint support of government funds and social capital for green environmental protection industry.Green Asset Securitization is an important financing tool in the field of green finance.It plays an active role in the investment and financing system,resource allocation,credit mechanism and risk management of environmental protection industry.On the basis of reviewing the relevant literature at home and abroad,this paper theoretically analyses the basic characteristics,operation mechanism and operation process of green asset securitization.Taking the Agricultural Bank of China's issue of Agricultural Yield Phase I Green Credit Asset-backed Securities as an example,this paper analyzes the current development situation,advantages and problems of green asset securitization in China.Combining with the case,this paper puts forward some policy suggestions,such as strengthening financial policy guidance to enhance investors' recognition of green asset securitization;strengthening third-party certification system to ensure the safety of green asset securitization project funds;strengthening the cooperation of regulatory departments to standardize the operation of green asset securitization,and so on,to promote the application of asset securitization as a financing mode in the development of green environmental protection industry.