The Asset Backed Securitization (ABS) finance model is a technique of financing that involves the securitization of assets from a project. This model is secured by the projected revenue generated by project assets and a project financing strategy that involves raising funds through issuing bonds in the capital market. The existing ABS financing model, widely used as a project financing mechanism in the global capital market, holds immense importance for both the financial market and economic progress. Furthermore, it has consequently garnered the interest of numerous researchers. This study examines the comparative development of asset-backed securities domestically and internationally, as well as their actual application and implementation in China. This text explores the origins and development processes, characteristics, and advantages of domestic and overseas ABS financing structures. This article utilizes global expertise and real-world examples to present a future outlook for the extensive implementation of ABS in China. It aims to offer valuable insights for China's market development, compliance with financial institution regulations, alignment with market demands, and informed decision-making for relevant stakeholders in the field.