| Since 2013,under the background of policy encouragement and inclusive supervision,Internet finance has achieved explosive growth in China.Various emerging financial models have emerged,and various innovative financial products have been widely accepted by youth groups,working-class workers,and small and micro enterprises.Internet finance plays an important role in improving financial efficiency,reducing financing costs,transforming financial structure,promoting inclusive finance and so on.Although some fickle companies have emerged during the barbarous growth of Internet finance and accumulated certain financial risks,the risk have been effectively controlled after releasing the “Guidance on Promoting the Healthy Development of Internet Finance and Finance”by the the Central Bank and other 10 ministries in 2015.In the long run,strictly regulated supervision will promote the sustainable and healthy development of Internet finance.In the future,with the further maturation and application of technologies such as mobile Internet,big data,artificial intelligence,and blockchain,Internet finance will be deeply integrated with traditional finance,becoming a useful complement to traditional finance and promoting the overall upgrading of China’s financial industry.At the same time,due to regulatory constraints,market restrictions,and other aspects,Internet finance has always faced issues such as narrow financing channels,high financing costs,and poor compliance of funding sources during the practice development process.The contradiction between supply and demand of funds has become a major obstacle to the rapid expansion of Internet finance companies.Under this background,exploring and studying the effective financing methods of internet finance companies has important theoretical and practical significance.In 2015,the establishment of a special plan for creditor’s assets support for debt receivables of JD bai tiao opened the prelude of the financing method of asset securitization in the Internet consumer finance sector,providing an example for the financing of Internet finance companies through asset securitization.In this context,this paper focuses on the JD bai tiao asset securitization project and analyzes theproblems and solutions in the process of securitization of Internet finance companies,proposing targeted countermeasures and suggestions from the perspective of promoting the rapid integration and development between internet finance and asset securitization.First of all,this article sorts out relevant literature on internet finance and asset securitization in recent years,and focuses on financing theory and financial innovation theory,laying a theoretical foundation for the following analysis.Secondly,in the case study of JD bai tiao Asset Securitization Project,this paper focuses on a comprehensive and in-depth analysis from multiple perspectives including project background,basic assets,participants,product structure,distribution process,risk types and preventive measures.In the process of analysis,this paper analyze the advantages and disadvantages of this project and make a comprehensive evaluation about it.Afterwards,this paper reviews the development history of traditional financial and Internet financial asset securitization,summarizes the successful experience of traditional financial in the process of development,and finds the main issues of Internet financial asset securitization in real operations.Through the comparative analysis of them,the securitization of Internet financial assets can get a lot of useful inspiration from the traditional financial.Finally,according to combing theories,case analysis,comparative analysis and the main problems in the securitization process of internet financial assets,this paper proposes countermeasures from the perspective of establishing laws,improving systems,enriching products,building market,preventing risks,and strengthening supervision to promote the sustained and healthy development of Internet financial asset securitization. |
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