| In recent years, the Internet finance led by E-commerce is in rapid development. Through the big data integration on the trade information collected from small-medium sized companies, e-commerce can turn the ambiguous "soft information" of those companies into "hard information" that is easily quantified, in order to avoid too much information asymmetry between the two parties in fund-raising, thus reducing the lending institution’s loan cost.This paper, through an e-commerce case study on Jingbaobei, a Jingdong financial product, comprehensively analyzes the pros and cons of it as well as the risks it might face, points out its influence on economy and finance, and concludes that Jingbaobei has unique advantages regarding aspects of customer, credit investigation and risk control, which allows it to better address its financing difficulties for small-medium sized companies. Besides, it is characterized by disintermediation of resource allocation to a certain extent, pushing financial system to reform.Meanwhile, it is also faced with some risks, including technical risks, operational risks, as well as the ones concerning the credit, legal issues and overall economy of Jingdong itself. Jingdong finance needs continuous self-innovation, and improves its credibility while developing its technologies, so as to lower risks to the minimum.Finally, some suggestions are offered concerning the development of e-commerce financing, which is closely connected to that of small-medium sized companies. And e-commerce financial enterprises should also enhance risk control ability of itself while providing fund-raising services to smaller companies, government should legislate to perfect relevant laws, and justify e-commerce finance’s rights for credit checking, thus forming a credit checking system complementing that of financial institutions. That way, e-commerce finance can develop healthily and small-medium sized companies related to e-commerce platform can alleviate their fund-raising plight. |
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