The Resarch On Green Asset Securitization By Financial Leasing Companies

With the increasingly severe environmental pollution and resource constraints,the development of green finance plays an important role in promoting the sustainable development of China’s environmental protection industry.Leasing companies could broaden financing channels and increase green investment by securitization.This paper theoretically analyses the basic characteristics of green asset securitization,the running mechanism,and take the case of Jiangsu leasing company as an example,to study the present situation,the challenges and the opportunity of green leasing asset securitization.Although the issuance scale of green leasing asset-backed securities in China is far smaller than that of other green financing products,it has attracted many issuers and investors due to its unique advantages and has great development potential in the future.At present,China’s green asset securitization is still in the preliminary exploration stage,and relevant market norms and supporting policies are not yet perfect,leading to such problems as weak liquidity in the secondary market,high issuance cost,and disunified green identification standards.Lastly,this paper proposes corresponding improvement suggestions for the government and financial leasing companies.On the one hand,it suggests that the government should speed up the establishment of an unified green certification standard,sophisticated supervision system and efficient trading mechanism,and offer appropriate financial subsidies to issuers.On the other hand,financial leasing companies are advised to strengthen information disclosure and reduce financing costs.