And as the initial part of whole procedure, choice on securitized asset not only influences the complexity of process directly, but also generates a decisive impact on the function of securitization.

• 其中,作为信贷资产证券化的初始环节,证券化资产的选择不仅直接影响整个运作流程的复杂程度,而且对证券化的作用效果起着决定性的作用。