国内英语资讯:Chinas asset-backed securitization sees rapid growth: report
<p><span word="BEIJING">BEIJING</span>, <span word="Jan">Jan</span>. 28-- <span word="China">China</span>'<span word="s">s</span> <span word="asset">asset</span>-<span word="backed">backed</span> <span word="securities">securities</span> (<span word="ABS">ABS</span>) <span word="market">market</span> <span word="saw">saw</span> <span word="tremendous">tremendous</span> <span word="growth">growth</span> <span word="last">last</span> <span word="year">year</span>, <span word="driven">driven</span> <span word="by">by</span> <span word="a">a</span> <span word="rise">rise</span> <span word="in">in</span> <span word="issuance">issuance</span> <span word="of">of</span> <span word="consumption">consumption</span>-<span word="related">related</span> <span word="securitizations">securitizations</span>, <span word="a">a</span> <span word="report">report</span> <span word="showed">showed</span>.</p><p><span word="In">In</span> 2017, <span word="the">the</span> <span word="volume">volume</span> <span word="of">of</span> <span word="new">new</span> <span word="issuances">issuances</span> <span word="surged">surged</span> 64.7 <span word="percent">percent</span> <span word="to">to</span> <span word="about">about</span> 1.5 <span word="trillion">trillion</span> <span word="yuan">yuan</span> (<span word="about">about</span> 236 <span word="billion">billion</span> <span word="U">U</span>.<span word="S">S</span>. <span word="dollars">dollars</span>), <span word="making">making</span> <span word="China">China</span> <span word="the">the</span> <span word="world">world</span>'<span word="s">s</span> <span word="second">second</span> <span word="largest">largest</span> <span word="securitization">securitization</span> <span word="market">market</span> <span word="in">in</span> <span word="terms">terms</span> <span word="of">of</span> <span word="new">new</span> <span word="issuance">issuance</span> <span word="volume">volume</span>, <span word="according">according</span> <span word="to">to</span> <span word="a">a</span> <span word="report">report</span> <span word="by">by</span> <span word="Pengyuan">Pengyuan</span> <span word="International">International</span>, <span word="a">a</span> <span word="credit">credit</span> <span word="rating">rating</span> <span word="company">company</span>.</p><p><span word="Consumption">Consumption</span> <span word="related">related</span> <span word="securitizations">securitizations</span> <span word="have">have</span> <span word="experienced">experienced</span> <span word="explosive">explosive</span> <span word="growth">growth</span>, <span word="with">with</span> <span word="auto">auto</span> <span word="loan">loan</span> <span word="ABS">ABS</span> <span word="surging">surging</span> 85.6 <span word="percent">percent</span> <span word="to">to</span> 109 <span word="billion">billion</span> <span word="yuan">yuan</span>.</p><p><span word="The">The</span> <span word="sharp">sharp</span> <span word="increase">increase</span> <span word="in">in</span> <span word="the">the</span> <span word="issuance">issuance</span> <span word="of">of</span> <span word="consumption">consumption</span>-<span word="related">related</span> <span word="securitization">securitization</span> <span word="was">was</span> <span word="driven">driven</span> <span word="by">by</span> <span word="China">China</span>'<span word="s">s</span> <span word="transition">transition</span> <span word="to">to</span> <span word="a">a</span> <span word="consumption">consumption</span>-<span word="based">based</span> <span word="economy">economy</span> <span word="and">and</span> <span word="firms">firms</span>' <span word="incentives">incentives</span> <span word="to">to</span> <span word="diversify">diversify</span> <span word="their">their</span> <span word="funding">funding</span> <span word="sources">sources</span> <span word="and">and</span> <span word="lower">lower</span> <span word="funding">funding</span> <span word="costs">costs</span> <span word="through">through</span> <span word="securitization">securitization</span>, <span word="the">the</span> <span word="report">report</span> <span word="said">said</span>.</p><p><span word="China">China</span>'<span word="s">s</span> <span word="consumption">consumption</span> <span word="growth">growth</span> <span word="and">and</span> <span word="e">e</span>-<span word="commerce">commerce</span> <span word="development">development</span> <span word="contributed">contributed</span> <span word="to">to</span> <span word="a">a</span> <span word="rise">rise</span> <span word="in">in</span> <span word="consumer">consumer</span> <span word="loans">loans</span>, <span word="which">which</span> <span word="in">in</span> <span word="turn">turn</span> <span word="fed">fed</span> <span word="consumption">consumption</span>-<span word="related">related</span> <span word="ABS">ABS</span> <span word="issuance">issuance</span> <span word="growth">growth</span>.</p><p><span word="The">The</span> <span word="rating">rating</span> <span word="agency">agency</span> <span word="expects">expects</span> <span word="China">China</span>'<span word="s">s</span> <span word="ABS">ABS</span> <span word="market">market</span> <span word="to">to</span> <span word="continue">continue</span> <span word="to">to</span> <span word="grow">grow</span> <span word="in">in</span> 2018, <span word="but">but</span> <span word="at">at</span> <span word="a">a</span> <span word="moderate">moderate</span> <span word="pace">pace</span>.</p><p>"<span word="Due">Due</span> <span word="to">to</span> <span word="the">the</span> <span word="new">new</span> <span word="policies">policies</span> <span word="on">on</span> <span word="regulating">regulating</span> <span word="consumer">consumer</span>-<span word="loan">loan</span> <span word="originations">originations</span>, <span word="consumer">consumer</span> <span word="loan">loan</span> <span word="ABS">ABS</span> <span word="issuance">issuance</span> <span word="in">in</span> 2018 <span word="might">might</span> <span word="not">not</span> <span word="able">able</span> <span word="to">to</span> <span word="keep">keep</span> <span word="pace">pace</span> <span word="with">with</span> <span word="the">the</span> <span word="previous">previous</span> <span word="year">year</span>," <span word="it">it</span> <span word="said">said</span>.</p><p><span word="The">The</span> <span word="issuance">issuance</span> <span word="of">of</span> <span word="transactions">transactions</span> <span word="backed">backed</span> <span word="by">by</span> <span word="commercial">commercial</span> <span word="real">real</span> <span word="estate">estate</span> <span word="assets">assets</span> <span word="will">will</span> <span word="continue">continue</span> <span word="to">to</span> <span word="increase">increase</span>, <span word="driven">driven</span> <span word="by">by</span> <span word="favorable">favorable</span> <span word="policies">policies</span> <span word="in">in</span> <span word="the">the</span> <span word="housing">housing</span> <span word="rental">rental</span> <span word="market">market</span> <span word="and">and</span> <span word="property">property</span> <span word="developers">developers</span>' <span word="incentives">incentives</span> <span word="to">to</span> <span word="diversify">diversify</span> <span word="their">their</span> <span word="financing">financing</span> <span word="channels">channels</span>, <span word="the">the</span> <span word="report">report</span> <span word="said">said</span>.</p>
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