Research on Asset-backed Securitization of PPP Projects
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Aimin Li, Ding Li
At the end of 2016, the China Securities Regulatory Commission and the National Development and Reform Commission officially launched asset-backed securities of PPP projects, which to a certain extent eased the difficulties in financing PPP projects and the complexity of social capital exit procedures. In early 2017, China's first asset-backed securities of PPP projects was successfully issued on the Shanghai Stock Exchange, which opened the prelude to China's PPP asset-backed securities. The asset-backed securitization of PPP projects has far-reaching significance for promoting the further healthy and rapid development of China's PPP model. This paper is based on the definition of asset-backed securitization. It expounds the characteristics of asset-backed securitization of PPP projects, the existing problems of asset-backed securitization of PPP projects at the present stage, and puts forward corresponding improvement suggestions.
PPP (Public-Private-Partnership); Asset-backed securitization; Risk prevention; Improvement suggestions