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Who Owns The Mirage? Comments On A Recent Chinese Securitization Case From A Comparative Perspective, Lingyun Gao
Who Owns The Mirage? Comments On A Recent Chinese Securitization Case From A Comparative Perspective, Lingyun Gao
Global Business Law Review
With China's restrictions on directly granting loans to real estate companies and the restrictions on establishing cash trusts, the trust companies had been seeking alternatives to engage in real estate investment. They actually might help the real estate developers to establish a trust to securitize the real estate project they own; however, for the reasons analyzed below, most of them decided to get financing only through using the “proceeds accruing from” their real estate project. These trusts are given a fancy name “XXX资产收益财产权信托”, and literally translated as “Trusts on the Right to Proceeds to be Accrued from XXX Project Assets.” …