Asset-backed securities still suffer an image hangover in the west from the days of the 2008 financial crisis. But China’s issuance of the financial products is soaring this year as Beijing places a big bet on securitisation as a salve for its huge credit risks. Though only a few years old, the Chinese debt securitisation market — in which pools of debt like mortgages, auto loans and credit-card loans are repackaged and sold to investors — is growing like topsy. Issuance of securitised assets rose 61 per cent in the first half of this year and could climb to $170bn for the full year, according to research by Bank of America Merrill Lynch.
受2008年金融危机影响，资产支持证券(ABS)在西方仍不受待见。但今年以来，此类金融产品在manbetx3.0 的发行量大幅飙升——北京方面正大举押注于证券化，把它作为缓解国内巨大信贷风险的一个途径。尽管形成仅几年时间，manbetx3.0 的债务证券化市场——抵押贷款、汽车贷款、信用卡贷款等债务池被重新打包并出售给投资者——正如脱缰野马般增长。美银美林(Bank of America Merrill Lynch)的研究显示，今年上半年manbetx3.0 证券化资产的发行量同比增加61%，全年将攀升至1700亿美元。