我国资产证券化操作方案的研究

资产证券化是西方金融领域最重要的创新工具之一.本文通过对资产证券化内涵及我国开展资产证券化工作的必要性进行深入分析,力求对我国学者提出的几种资产证券化方案进行透彻辨析,并提出适合我国国情的资产证券化方案--利用可转换债券、过手证券、资产支持证券及优先/次级结构信用增级的方式,发行资产证券,解决我国国有银行不良资产问题.

Discussion and Investigation of Operating Case of Securitization in China

Securitization is one of the most important innovative tools in the financial field in the west. By an in-depth demonstration of the content of securitization and the necessity of its development in China, this paper tries to give a thorough analysis of the various schemes of securitization put forward by Chinese scholars. On this basis, a securitization scheme that fits in with national conditions are suggested, featuring the utilization of convertible bonds, pass,through and asset-backed securities and senior/ subordinated structures for upgrading credit level, in a bid to issue asset securities and to curb bank bad assets.