On December 27, “Huaneng Trust - Kaiyuan - Shimao Housing Rental Asset Backed Securities”, the 1st asset backed securities product with a trust company as the manager, is successfully issued on the Shanghai Stock Exchange (SSE), which symbolizes the further expansion of the participants of the asset securitization business. It will help to improve the diversity of the asset securitization products and further enhance the asset securitization business’ capacity of serving the real economy.
The expansion of the manager scope of asset backed programs to trust companies is a key measure of implementing the policies of strengthening the financial regulatory system reform and the financial regulatory coordination by the Party Central Committee and the State Council, which aims to further intensify regulatory coordination, promote a fair and orderly market competition, increase market vitality and improve the capacity of serving the real economy. The manager of the above asset backed securities product is Huaneng Guicheng Trust; the originator is Shimao Group; the trading arranger is Kaiyuan Securities; and the shelf offering reaches RMB1 billion. The first issuing size amounts to RMB200 million, with the housing rent creditor’s right as the basic asset and the preferred securities rating of AAA level, which is an innovative product of implementing the national policy of promoting housing rental and purchase simultaneously and boosting the development of the housing rental market.
Afterwards, the SSE will, under the leadership of the China Securities Regulatory Commission and according to the actual demand of enterprises, further promote the development and innovation of the asset securitization market, intensify its width and depth, and play a more important role in implementing national strategies, expanding the direct financing channels of entity enterprises and serving the transformation and upgrading of the real economy.