Research On The Development Of ABS In Supply Chain Finance Of Commercial Circulation Industry

Under the traditional financing mode,it is difficult for small and medium-sized enterprises to obtain sufficient financial support.Faced with the difficult and expensive financing situation,the development of small and medium-sized enterprises in the trade circulation industry is severely restricted.Supply chain finance gives credit to upstream and downstream enterprises with the aid of the whole supply chain credit.Therefore,the development of supply chain finance in commercial circulation industry has natural advantages.At the same time,compared with traditional financing methods,asset securitization has lower cost,so supply chain finance ABS came into being.In recent years,various enterprises have tried supply chain finance ABS one after another,and the trade circulation industry has also joined in.This paper mainly uses the method of case analysis to analyze the specific case of Suning's application of supply chain financial ABS,and summarizes the experience to provide reference for the development of supply chain financial ABS in China's commercial circulation industry.Based on the analysis of the development status of supply chain finance ABS in China's commerce and trade circulation industry,it is believed that the imperfect relevant policies,the impact of consumer finance ABS,the lack of professional talents,the unstable supply chain and the insufficient strength of enterprises are the important reasons hindering the development of supply chain finance ABS in China's commerce and trade circulation industry.In the case analysis part,four aspects of Suning's special plan,namely asset pool,bankruptcy isolation,credit enhancement measures and risk prevention,are analyzed,and compared with Jingdong's case.The similarities between the two and Jingdong's experience aresummarized.The effect of Suning's case is analyzed from upstream small and medium-sized enterprises,Suning and industry.It is concluded that Suning has taken sufficient credit enhancement measures and risk prevention measures to bring enlightenment to the development of supply chain finance ABS in commercial circulation industry.Finally,combined with the above analysis,suggestions are put forward for the development of supply chain finance ABS in China's commerce and trade circulation industry from the aspects of national policies and enterprise applications.