The Design Of Securitization Scheme Of Supply Chain Finance

With the rapid development of economic globalization and Internet technology,product update iterations have accelerated,and companies have been busy enhancing their core competencies while at the same time they have to take into account the improvement of the supply chain's operational efficiency.However,the upstream and downstream companies in the supply chain are mostly small and medium-sized enterprises,and their financing difficulties are a long-standing issue.The operational risks will not only hinder their own operations,but will also be transmitted along with the chain to the core companies,affecting the stability of the entire supply chain.Especially for the capital-intensive real estate industry chain,the financing issue is even more important.However,the tightening of domestic macro-controls and the tightening of bank credits make a bad situation worse.Under this circumstance,the securitization of SCF led by large-scale real estate enterprises as the core enterprise has become a new financing channel for SMEs in the real estate chain.However,the number of securitized products in current supply chain financial assets is relatively small,and the product structure is relatively simple.The qualifications of core enterprises are relatively high,and it is far from enough to satisfy the financing problem of the real estate supply chain.The main reason for this is that the issue of risk control of the securitization of SCF has not been satisfactorily resolved.In view of the above issues,this paper summarizes the previous related literature of supply chain finance and asset securitization,extracts the concept,characteristics,classification,and basic principles of the securitization of SCF,and uses a variety of risk identification methods such as risk list to list the possible risks of the securitization of SCF,based on the framework of general corporate asset securitization products,combined with the characteristics of SCF,designed a product plan suitable for thesecuritization of SCF,and used the Vanke's ABS as a case study.The analysis verifies that the design of the securitization scheme of SCF proposed in this study is feasible.This new prodoct program is based on the current asset securitization product program has been issued to improve,which can more effectively control the risk of ABS of SCF,and it provides reference value for more real estate companies and other industry companies to issue ABS of SCF.