我国资产证券化发展的现状与风险防范分析

Current Status and Development of Asset Securitization of China and Analysis of Risk-Avoidance

证券化已成了世界现代经济生活中的普遍现象,对现代经济产生了巨大影响。我国从2005年12月起对银行业信贷资产进行证券化试点,正经受着"美国次贷危机"经验教训的洗礼。本文介绍了我国大陆在资产证券化领域近12年的摸索、讨论和试点情况,并在分析了资产证券化对我国金融体制建设的现实意义之后,提出了我国目前信贷资产证券化及资产支持证券风险防范的6个主要方面。

Securitization has been normal in world modern economy activities and has a huge impact on modern economy. China started a pilot program of credit-asset securitization of banks in December 2005, and we are now learning the lessons and experiences from the U.S. sub-prime mortgage crisis. This article introduces the researches, discussions and pilot programs of China's Mainland in the recent 14 years, analyzes the practical significance of asset securitization to the constructing of our financial system and presents six main aspects of risk-avoidance in asset-backed securities and credit-asset securitization in China.