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一如中国金融创新乃至制度创新的传统路径,资产证券化落地也被罩上浓重的本土气息;另一方面,这也使预期变得相对可靠即使在以试点方式破题之后,中国资产证券化的步调依然谨慎。 2005年12月15日,建行、国开行同日发行了首只信贷资产支持证券(ABS)和抵押贷款支持证券(MBS)。其中,建行发行总额约30亿元,低于前期各种渠道披露的数据,国开行发行总额为41亿余元,并表示争取当年底再发一批,但至今一个月过去未见动静。建行、国开行的资产证券化产品和运作本身,很大程度上仍是“特事特办”的产物,资产证券化在中国大规模发展,仍需要相关立法配套, 但据媒体援引证监会人士的说法称:“可能要再等五年才能出来。”
As China’s traditional financial innovation and institutional innovation path, asset securitization landing was also covered with a strong local flavor; the other hand, it also makes the expected relatively reliable even after the pilot project to break the title, the pace of China’s asset securitization Still cautious. On December 15, 2005, CCB and CDB issued the first ABS and MBS on the same day. Among them, CCB issued a total of about 3 billion yuan, lower than the previous disclosure of various sources of data, CDB issued a total of 4.1 billion yuan, and said that for the re-issue of a batch of the end of the year, but so far the past one month no movement. CCB and CDB’s asset securitization products and operations themselves are still largely “special events” products. The large-scale development of asset securitization in China still needs the support of relevant legislation. However, according to the media, CSRC Saying: “It may take another five years to get out.”