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总体来看,我国信贷资产证券化试点9年多来,取得了较好的成绩,目前正在进一步加速向前推进。同时也应看到,试点工作的推进过程仍相对缓慢,其背后主要有以下几个方面的原因。第一,基础资产的选择范围比较狭窄。目前监管机构对于信贷证券化资产的选择范围有诸多限制。比如,强调基础资产必须是优良的资产,不允许对不良资产进行证券化。此外,还把平台贷款、房地产贷款、一些中长期贷款及外部评级在BBB
Overall, China’s credit asset securitization pilot has achieved good results over the past 9 years and is now accelerating further. At the same time, we should also see that the progress of the pilot work is still relatively slow. The reasons behind the following are mainly the following aspects. First, the scope of choice of basic assets is relatively narrow. Regulators now have a number of restrictions on the scope of securitization assets to choose from. For example, stressing that basic assets must be good assets does not allow the non-performing assets to be securitized. In addition, the platform loans, real estate loans, some medium and long-term loans and external rating BBB