Research On The Effect Of Asset-Backed Notes Business Implementation

The report of the 19 th national congress of the Communist Party of China pointed out that China’s economy has changed from a high-speed growth stage to a high-quality development stage,and we should promote green development.The 2021 government work report also proposed to adhere to the concept of "green water and green mountains are golden mountains and silver mountains",accelerate the green transformation of development mode.It can be seen that green development has gradually taken root in the hearts of the people.At the same time,the waste electrical and electronic recycling industry,as an important part of resource recycling,has also ushered in a period of rapid development.However,due to the lag of the subsidy of the waste electrical and electronic disassembly fund,the relevant processing enterprises are facing great advance pressure.At the same time,a large number of accounts receivable occupy the enterprise funds,which has an adverse impact on the healthy and sustainable operation of the enterprise and even the whole industry.Therefore,how to revitalize accounts receivable is an urgent problem faced by relevant enterprises.This paper summarizes the past theories and research,selects the leading enterprises in the industry as the case enterprises,and studies their issuance of the first national subsidy asset-backed notes for the dismantling fund of waste electrical and electronic products,so as to broaden the financing channels.Analyze the motivation,basic assets,credit enhancement arrangement,accounting confirmation and implementation effect of issuing asset-backed notes,find out the shortcomings of asset-backed notes in this period,and put forward countermeasures and suggestions for case enterprises and related enterprises to help enterprises optimize financing plans.This paper holds that the financing speed of asset-backed notes in the current period is slow and does not give full play to the advantages of innovative financial instruments;In addition,the credit enhancement arrangement of asset-backed notes in this period makes the accounts receivable of the case enterprise unable to be "listed",which does not achieve the effect of optimizing financial indicators;In addition,combined with the actual registered amount of the enterprise and the later financing arrangements of the enterprise,the issuance scale of asset-backed notes in this period is small.Therefore,this paper puts forward reasonable suggestions for case enterprises and related enterprises: improve operation and management ability and strengthen fund management;Optimize the arrangement of credit enhancement to make the basic assets "listed";Optimize the layered design of securitization products to reduce financing costs and attract more investors.