On March 2, the 2021 asset securitization development report released by the China bond research and development center of the Central Clearing Corporation showed that the scale of China's asset securitization market continued to grow in 2021, with the issuance of various products of 3.1 trillion yuan and the stock scale close to 6 trillion yuan at the end of the year. The market operated smoothly, the issuing interest rate fluctuated downward, and the liquidity increased year-on-year.
According to the report, in 2021, China issued 3099932 billion yuan of asset securitization products, an increase of 8% year-on-year; At the end of the year, the market stock was 5928095 billion yuan, a year-on-year increase of 14%. Credit ABS issued 881533 billion yuan in the whole year, with a year-on-year increase of 10%, accounting for 28% of the total issuance; At the end of the year, the stock was 2606753 billion yuan, a year-on-year increase of 17%, accounting for 44% of the total market. Among credit ABS, personal mortgage-backed securities (RMBs) is still the largest variety in terms of issuance scale. In 2021, RMB 499.3 billion was issued, with a year-on-year increase of 23%, accounting for 57% of the issuance of credit ABS.
The issuance of green ABS was significantly accelerated in 2021. From the prospectus, green ABS provides a strong guarantee for reducing the financing cost of green enterprises, implementing financial support for green development and helping to achieve the goal of carbon neutrality. Statistics show that 284 green ABS products were issued in 2021, with a scale of 118079 billion yuan, 4.3 times that of 2020.
According to the report, in June 2021, China's first batch of 9 infrastructure public offering REITs products were listed on the Shanghai and Shenzhen Stock Exchange. By the end of 2021, a total of 11 infrastructure REITs had been listed, including property rights REITs such as modern logistics warehousing and industrial parks, as well as franchise REITs such as highways, water treatment and waste power generation, which were mainly invested in infrastructure short board projects.
The valuation of the public debt in the developing financial center is released on June 21, 2021. By the end of 2021, it had provided valuations for 11 REITs, realizing full coverage of the valuations of REITs listed on the exchange. The valuation of China bond REITs meets the needs of market participants for transaction reference and fair value measurement of infrastructure public offering REITs, and effectively supports the healthy development of infrastructure public offering REITs market.
China's asset securitization market is entering a deep period from the outbreak period. We should further standardize the market operation, improve the market vitality and build a strong security defense line. The report suggests that we should improve the green ABS system from the perspectives of recognition standards, business norms and product access, accelerate the penetration and standardized information disclosure of asset securitization products, improve the liquidity of the secondary market, strengthen the prevention and control of enterprise ABS risk, avoid the penetration of credit risk, and promote the safer, transparent and Sustainable and higher quality development.
