摘要：首先从政策推动和天然合作角度分析PPP项目与资产证券化融合的驱动力，然后分析PPP项目实施资产证券化的决策要素，包括：基础资产现金流安全覆盖、发行时间点、期限错配、实际折现率等，在此基础上，提出PPP项目实施资产证券化的注意事项，为PPP项目资产证券化决策提供参考。
关键词：PPP,资产证券化,决策分析,项目贷
Abstract：Firstly，from the perspective of policy promotion and natural cooperation，this paper analyzes the driving forces of the integration of PPP projects and asset securitization，and then analyzes the decision-making elements of asset securitization of PPP projects，including the safe coverage of cash flow of basic assets，issuing time point，maturity mismatch，actual discount rate，etc. On this basis，puts forward the matters needing attention in the implementation of asset securitization in PPP projects，provides reference for the decision of asset securitization of PPP projects.
Keywords：PPP；asset securitization；decision analysis；project loan
建筑经济，2021（01）：66-68