A blueprint for Chinese securitization.

The article presents information about various rules for securitization in China. The People's Bank of China (PBOC) and the China Banking Regulatory Commission (CBRC) has jointly promulgated the Administrative Measures of Pilot Projects of Credit Assets Securitization. The measures apply to activities that fall under the responsibility of PBOC and CBRC and provide a blueprint for the securitization of credit assets by means of a specially established special purpose trust. The measures' intention is to carry out an experiment in a market where securitization-friendly legislation has not yet been firmly established, and to provide guidelines for the implementation of the two pilot credit asset securitization projects recently approved by the State Council.