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Abstract
China's commercial banks have high proportion of non-performing assets with a huge amount, contain potential financial risks, and seriously hindered the development of China's banking industry and the operation of the national economy. China has made certain achievements after the disposal in the past few years, but still have greater pressure, it is widely concerned abt using innovative steps to solve bad assets problems. Asset securitization is an important innovation business in the international financial marketthe of the past 30 years, and was applied to the bad assets disposal, foreign theories in this field have gradually matured and improved, made some good results in practice, China has begun to try to resolve the domestic banking non-performing assets problem with securitization, and has made some progress. However, after the outbreak of the subprime lending crisis in the United States at 2007, some researchers believe that the subprime lending crisis is a product of securitization, they think that it was loan institutions which made a large number of mortgage loans to those who do not meet quality mortgage loans requirements, shifting the loss of loans in arrears,the collateral damage caused by insufficient collateral onto a big number of investors through securitization, therefore made some funds and banks related to the subprime lending crisis in the United States into troubles or bankruptcy, and triggered a further austerity in Western credit markets in some level.
This paper mainly has analysis and summary on the development process of securitization of assets in China and in the United States, and also has analysis on the relations between the securitization of assets and the U.S. the subprime lending crisis, is there any inevitable link between them. Combined with China's realities, analysing the necessity and feasibility of securitize non-performing assets in domestic innovation and asset securitization in China, in order to better play the positive role of the securitization of the bad assets, effective defuse financial risks in China . This paper is divided into four parts:
Part I: First,review the development of financial innovative tools, and make specific understanding of the operation of securitization of assets with financial basis and the Subprime loans in the United States, and then analyse the relations between asset securitization and the Subprime loans.

Part II: briefly introduce the development of the asset securitization and the outbreak of the subprime lending crisis in the United States, and analyse the development and reasons for the subprime lending crisis.

Part III: Mainly introduce the development and current situation of the assets securitization in China, and the obstacles encountered and problems during implementation process.

Part IV: This is the core part of the paper, combinating with the experiences of domestic and foreign assets securitization, analyse the necessity and feasibility of assets securitization in China, and develop the assets securitization with learning lessons from the loan-to-crisis from the subprime lending crisis in the United States.

China's commercial banks high proportion of non-performing assets, the amount, contains a potential financial risks, and seriously hindered the development of China's banking industry and the operation of the national economy. After the disposal of the past few years, China has made certain achievements, but still greater pressure, the use of new and innovative ways of disposing of bad assets problem of growing concern. Asset securitization the past 30 years the international financial market is an important innovation in business, and was applied to the disposal of bad assets, foreign theories in this area have gradually matured and improved in practice has made a good result, China Securities has begun to try to resolve the domestic banking sector non-performing assets, and has made some progress. However, loan-to-07 the United States after the outbreak of the crisis, some scholars believe that the loan-to-asset securitization of the crisis is a product, they think that because a large number of those who do not meet quality mortgage loans mortgage loans, these loans through securitization, Only loans in arrears, the collateral damage caused by insufficient collateral onto the vast number of investors, some with the United States related to the loan-to-market funds, banks in trouble or bankruptcy, and further west credit markets triggered a degree of austerity.
In this paper, securitization of assets in China and the United States in the development process analysis and summary and analysis of the U.S. sub-loan crisis and the securitization of assets, both on whether the link is inevitable. Combined with China's realities, the non-performing assets in securities of domestic innovation and asset securitization in China necessity and feasibility analysis, in order to better play the bad assets of the positive role of the securities, effective defuse financial risks in China . This paper is divided into four parts:
Part I: First of all the financial development of innovative tools to conduct a review, and specific understanding of the financial assets of the securities in accordance with the operation and the United States, a loan, then analysis of asset securitization and the loan is the relationship between.
Part II: the United States briefed the development of asset securitization and the loan-to-the outbreak of the crisis and the crisis of development and loan-to-cause analysis.
Part III: It introduced some of the major assets in the securities of China's development and current situation and the implementation process of some of the obstacles encountered with the problem.
Part IV: This is the core of this paper, the combination of domestic and foreign assets of some of the securities of experience, analysis of the assets in the securities of the necessity and feasibility of China, and the loan-to-crisis from the United States to learn the development of asset securitization .