结构化产品在国内的应用价值及思考

Structured products in china： value and reflection

与信用挂钩的结构化产品，就本质而言也属于金融机构出售或交易金融资产信用风险的过程。由于可以基于保险合同来设计交易结构及法律文本，结构化产品相对于传统的资产支持证券更富有灵活性、可操作性以及对本地区法律的适应性。该文结合实例探讨了结构化产品在国内的应用价值。

Credit-linked structured products essentially come from the process in which financial institutions sell or trade the credit risk of financial assets. As compared with traditional asset-backed securities, structured products boast larger flexibility, operability and adaptability to local laws, for its trading structure and legal documents can be designed based on insurance contracts. With analysis of examples, this paper discusses structured products＇ practical value in China.