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信托作为一种财产转移和财产管理制度,具有两项重要的法律功能:可以重构信托资产的财产权利,能够使信托资产与信托当事人的破产风险相互隔离。企业利用信托的独特法律功能,借助资产证券化的核心技术,通过出售和回购资产信托受益权,可以开展债务性的资产融资活动。这种基于信托的企业资产融资行为的融资成本及融资交易费用相对较低,可以改善企业的财务结构,能够提高企业信托资产的利用效率。在我国目前经济环境下,建立和完善信托登记、信托税收及信托受益权管理制度,是提高企业资产信托融资效率的关键。
As a kind of property transfer and property management system, trust has two important legal functions: It can reconstruct the property rights of trust assets and can separate the trust assets from the bankrupt risks of trust parties. Utilizing the unique legal functions of trusts and utilizing the core technology of asset securitization, enterprises can launch debt asset financing activities by selling and repurchasing the beneficiary rights of asset trusts. The trust financing cost and financing transaction cost of trust financing are relatively low, which can improve the financial structure of the enterprise and enhance the utilization efficiency of the trust assets. Under the current economic environment in our country, establishing and perfecting the management system of trust registration, trust tax and beneficiary right of trust is the key to improve the efficiency of corporate asset trust financing.