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2005年3月21日,经国务院批准,信贷资产证券化试点工作正式启动。国家开发银行和中国建设银行作为试点单位,将分别进行信贷资产证券化和住房抵押贷款证券化的试点。信贷资产证券化,并不是单纯意义的金融衍生产品,它将构建中国资产证券化制度体系,也是当前中国金融改革的一记重拳。资产证券化可以提高金融市场的效率,降低金融风险,还具有促进扩大消费、发展住宅产业的功效,而且对于丰富中国的债券产品,推动中国资本市场发展等方面也有重要意义。
March 21, 2005, approved by the State Council, credit asset securitization pilot officially started. As a pilot unit, China Development Bank and China Construction Bank will carry out pilot projects on securitization of credit assets and securitization of housing mortgage loans respectively. The securitization of credit assets is not a purely financial derivative product. It will build a system of asset securitization in China and is also a punch in the current financial reform in China. Assets securitization can improve the efficiency of financial markets and reduce financial risks. It also has the effect of promoting the expansion of consumption and development of residential industries. It is also of great significance in enriching China’s bond products and promoting the development of China’s capital market.