引言资产证券化产品是国际资本市场的重要组成部分。资产证券化的成功运作可以提高金融体系的整体效率,降低融资成本,促进消费经济的发展,推动创新型产业的形成,还可以降低商业银行的系统性风险。2005年,中国资产证券化行业开始试点,虽然初期成长速度比较缓慢,但在过去3年中,该行业已有飞跃性的成长。2015年全年,中国资产证券化总发行量已经超过欧盟(如果不考虑欧盟的资产担保债券)。通过 Introduction Securitization products are an important part of the international capital market. The successful operation of asset securitization can improve the overall efficiency of the financial system, reduce financing costs, promote the development of consumer economy, promote the formation of innovative industries and reduce the systemic risk of commercial banks. In 2005, the pilot securitization of China’s securitization industry, although the initial growth rate is relatively slow, but in the past three years, the industry has been a huge growth. In 2015, the total issuance of securitizations in China has surpassed the EU (if not considering the EU’s asset-backed bonds). by