对当前我国不良信贷资产证券化的理性思考

该文就当前我国国有银行不良资产证券化的问题做了较系统的分析，作者的基本观点是：无论从中国国有银行不良资产的质量和形成背景看，还是从中国现实的金融市场，法制环境分析，选择不良信贷资产作为中国资产证券化的切入点是不明智，不现实的，中国的资产证券化首行必须解决好若干认识定位问题，认真选择启动资产，同时，积极推进经济金融体制改革，加快现代企业制度建设，培育资本市场，否则，将俗速而不达。

The Rational Reflection of China's Present Asset Securitization of NPL

The article makes a systemic analysis of several basic problems on the securitization of the NPLs in State Banks of China,. The paper points out that whether observing from NPLs' quality and backgrounds in state banks of China, or analyzing practical financial market and legal system surroundings of China, it's not wise and practical to choose NPLs as the beginning of asset securitization. Asset securitization be carried out in China, it first must solve several basic understanding issues and select start-up assets. Meanwhile, we should actively drive ahead the reform on economic and financial system to incubate capital market. Otherwise, haste makes waste.