Improving asset securitization trading structure by introducing SPT

Since assets securitized in the 1970’s,asset securitization became the most important finance innovation globally.It played an important function in a mature and stable finance system,which helped enhance capital efficiency.From its operation model,special purpose vehicle which functions as bankruptcy insulation plays a key role and succeeded in asset securitization.In China,special purpose trust which is led by trust companies becomes most realistic choice for asset securitization.Meanwhile,we still need to improve our law,tax and inspection policies in order to promoting a healthy assets securitization,and smoothing development of special purpose trust.