Special purpose vehicle (SPV) strips the Asset by securitization. Then by adjusting the cash-flow structure of basic asset, SPV design different types of asset securities with specific cash-flow mode.

• 资产证券化通过中间媒体SPV进行“资产隔离”后，通过调整基础资产的现金流结构设计出不同类型的资产证券，并拥有各自独特的现金流模式。