Research On Assets Securitization Risk Prevention Based On Supply Chain Finance

In recent years,under the increasingly strict financial supervision trend,corporate credit has sunk,and the problem of financing difficulties for small and medium-sized enterprises(SMEs)is very prominent.Under the encouragement and guidance of national policies,supply chain finance and Internet technology have become a major force,and to a certain extent,it has become a practical solution to alleviate the financing of SMEs and serve the real economy.By the end of 2018,the size of Chinese supply chain financial market had expanded to about 2 trillion US dollars.Supply chain finance ABS financing not only reduces the financing threshold and financing costs,but also improves the financing efficiency.From the interests of the entire upstream and downstream enterprises,it ensures the production management and financial capital operation of the supply chain,and optimizes the capital structure of the enterprise.However,both domestic and international research on the theory and practice of supply chain finance ABS financing are in the exploratory stage.Since there are many suppliers involved in supply chain finance and involve different industries and technical fields,there are some potential risks that cannot be ignored.Therefore,the supply chain is upgraded.The overall risk management and control capabilities of finance are particularly important.Based on the theoretical and practical perspectives,using case study method and literature research method,summarizes the relevant information and implementation experience of the new economy enterprise Xiaomi supply chain financial accounts payable asset support special plan,and explores to promote enterprises to effectively implement supply chain finance ABS Model measures.This article takes Xiaomi's supply chain financial accounts payable asset support special plan as the main line,based on the theory of resource integration and synchronous operation,from the definition of supply chain finance,financing mode and application theory,the in-depth study of supply chain finance ABS is conducted.The project overview,transaction structure,asset pool,and circular purchases of the special asset-backed plan found that supply chain finance was inadequately developed due to the lack of supply chain finance ABS itself,and due to factors such as the large number of participants,low credibility of SMEs,and redundant procedures.ABS based on supply chain finance has certain risks,but ABS based on supply chain finance of Xiaomi successfully avoided risks and achieved certain results.Therefore,this paper summarizes Xiaomi's strategies for dealing with risks,and based on this experience,this paper proposes solutions and specific measures for enterprises to effectively implement ABS based on supply chain finance.Through research on this case,this paper concludes that the standardized issue of ABS based on supply chain finance by enterprises can effectively improve operating capabilities,improve corporate cash flow,improve debt repayment ability and effectively enhance corporate collaboration.Therefore,This paper generalizes the experience summarized by the ABS account payable of Xiaomi,to provide enterprises with useful experience and measures for the effective implementation of ABS based on supply chain finance,including the following points: improve the adaptability to the external environment;strengthen the strict selection of participants and the full-scale monitoring and management of transaction information;improve their own credit status and credit constraint management;strengthen the integration of technology and talents with ABS based on supply chain finance,and drive the high-level innovation and development of ABS based on supply chain finance.It is hoped that this case can provide reference for other companies to effectively implement ABS based on supply chain finance and prevent risks effectively.The innovation of this article may be reflected in:(1)Based on the new factoring of the new economy enterprises by reverse factoring,the case selection is representative.In recent years,research has mainly focused on supply chain finance ABS for real estate companies,and Xiaomi's supply chain financial account payable asset support special plan is the first single supply chain financial financing securities issued by new economic companies.Financing is the financing method;(2)Focus on sorting out the transaction process,summarizing and analyzing the risks and problems of supply chain finance ABS financing;(3)This article focuses on analyzing how Xiaomi operates in the financing process to prevent existing risks,and to explore the effective implementation of supply The strategy of the chain finance ABS model.