Case Study And Analysis Of Asset-backed Securities Of VIPSHOP (China) Co.,Ltd.

At present,China is in an important period of financial reform.As one of the important financial derivatives,Asset backed securitization has great potential for development.Before 2014,the scale of the issuance of securitized products in China was 101.8 billion yuan and the issuance scale in 2016 increased rapidly to 842 billion yuan.The main body of market participation began to show a trend of diversification.From the scale of issuance to the issuer,China's Asset backed securitization is in rapid development after the pilot.In particular,the Internet consumer financial asset securitization products have begun to explode.At the same time,as the consumer financial market education process has been completed,users are increasingly accepting the purchase of all kinds of goods and services in phases,and various Internet consumer financial platforms will accumulate large amounts of creditors' rights.However,the speed of capital increase for many companies is difficult to keep up with.Gold pressure gradually increased.Therefore,returning funds through Asset backed securitization becomes a way out.Based on this,this article,through combing the domestic and foreign Asset backed securitization related theory,at the same time study development situation,and according to the domestic Internet consumer finance industry development present situation,proposed these companies to basic ideas and direction of the ABS.Through the analysis of enterprise.in various aspects,it further analyzed its consumer loan product,and analyzed the based on the underlying asset Product design is introduced.Based on this,we conducted a thematic analysis to find out the motivation,risk and effect evaluation of enterprise to develop its securitization business and make recommendations on the financing operation and risk control of the company.At the same time,summarizing domestic and international research and practical experience in Asset backed securitization,it puts forward the feasibility of the development of Asset backed securitizationn for Internet consumer finance loans,and expects that many Internet consumer financial companies in China will use Asset backed securitization to strengthen their operations and management.Reference value.Finally,put forward the research problem and prospected the enlightenment,from risk prevention and reduce the Angle of Asset backed securitization financing barriers to entry other similar Internet consumer finance companies offer effective reference for asset securitization.