以资产证券化为突破口盘活存量资产

With Asset Securities into a Breakthrough to Revitalize the Stock Assets

我国货币存量已居世界第一,而银行体系、政府、企业和民间存在庞大的沉淀、闲置资产,盘活存量资产,用好增量资产已成为我国提高资金使用效率,发挥金融支持实体经济发展的重要突破口。盘活存量资产的主要路径如提高直接融资规模,扩大债券、优先股发行;清理重组存量债务;开放民间金融;资产证券化等,我国推进资产证券化有其必要性及发展潜力。因此应从扩大参与主体、加强定价、提高市场流动性、探索中小企业贷款证券化等方面促进我国资产证券化常态化发展。

China＇s money stock is the first in the world, while there are large precipitations, idle assets in our banking system, government, enterprises and privates. To revitalize stock assets and apply the increment assets have become the important breakthrough to improve the use efficiency of funds and support the development of real economy in our country.The main paths of revitalizing stock assets include increasing the scale of direct financing, enlarging the issue of bond and preferred stock, reorganizing the stock debts, opening the informal finance and assets securitization, etc. To promote the assets securitization development in our country has the necessity and development potential, so we should expand main body of participation, reinforce pricing, improve market liquidity and explore loan securitization of small and medium-sized enterprises to support the normalization development of our country＇s asset securitization.