According to the Measures for the Pilot Management of Credit Asset Securitization promulgated by the Central Bank, credit asset securitization means that commercial banks use housing mortgage loans or other credit assets as securitized assets to form an asset pool, package the assets and entrust them to the trustee, who will make structural arrangements for the assets and enhance internal and external credit, and apply to the People's Bank of China for issuing asset-backed securities. With the approval of the People's Bank of China, it will be issued and traded in the national inter-bank bond market.

500 billion yuan of new credit asset securitization: the scale of credit asset securitization has been expanded. 20 1 1 When the second round of credit ABS pilot was restarted, the scale designated by the State Council was 50 billion yuan. In 20 13, the State Council further expanded the pilot scale of credit ABS, and the pilot scale jumped to 400 billion yuan. By 20 15, the pilot scale will jump to 500 billion yuan.