Choice of dreakthrough in asset securitization in China

According to asset operation and asset securitization in broad sense,a theory system of asset securitization includes a core theory of cash flow analyzing and three fundamental theories of asset restructure theory,risk-remote theory and credit enhance theory.On the base of the theory system,there are three principles of how to choose the breakthrough in asset securitzation.Firstly,underlying asset must satisfy asset restructure theory;secondly,it must offer a demonstration for Chinese development of asset securitization;thirdly,the institution and environment is made either to have least conflict with existing institution and environment or to break through existing institution and the restriction for the best.With these principles,eight exiting models are commented on and two breakthrough in asset securitization in China are deduced:MBS+semi off balance securitization,and infrastructure charge backed securitization+off shore securitization.