以融资租赁为突破口,推动中国(上海)自贸试验区跨境资产证券化

Based on the Breakthrough Point of Financing Lease,to Promote the Securitization of China (Shanghai) Pilot Free Trade Zone's Cross-border Asset

当前,上海自贸区在证券化产品二级市场建设、监管协调,外汇、法律与税务制度建设方面存在不足。上海自贸区应以融资租赁为突破口,坚持"先企业资产证券化、后信贷资产证券化","审慎选择、适度扩大"基础资产范围;坚持"先跨境外币资产证券化、后跨境人民币资产证券化",稳步推动人民币国际化;完善监管政策,强化监管协同;完善税收制度,简化审批流程,积极推进区内利率市场化改革,加速境内资本市场对外开放,为区内跨境资产证券化试点营造良好的市场环境。

At present, there exist shortcomings for Shanghai FTA in the aspect of securitised products＇ secondary market construction, supervision and coordination, foreign exchange, legal and tax system construction. Shanghai FTA should base on financing lease, adhere to the ＂enterprise asset securitization goes first, credit asset securitization goes next＂, and ＂prudently choose, moderately expand＂ the scope of underlying assets; adhere to the ＂ the securitization of cross-border foreign asset goes first, the securitization of cross-border RMB assets goes next＂ and steadily promote the internationalisation of RMB; perfect the regulatory policy and strengthen supervision and coordination; perfect tax system, simplify approval process, actively promote marketization reform of interest rate within the area, accelerate the opening of domestic capital market to the outside world, to create an advantageous market environment for the securitization of cross-border asset within Shanghai FTA.