Research On The Securitization Of Internet Consumption Financial Asset

With the steady improvement of residents'income,the structural transformation of consumer habits and the rapid development of online shopping platforms,The domestic Internet consumer financial market has achieved rapid growth in recent years.From the rise of the concept of consumer finance in 2010 to the popularity of Internet consumer finance companies in 2013,The convenience and high coverage of Internet technology effectively released potential consumer market space.When the Internet company Alibaba and Jingdong provide consumers with commodity credit services based on e-commerce platforms(Taobao,Jingdong),accumulates large-scale financial assets.These poorly liquidity receivables assets,not only reduces the overall liquidity of assets,increases the risk of bad debts,but also greatly limits the company's further business expansion.So study the Internet consumer enterprise asset securitization case has important theory and realistic significance to improve that whole consume financial market.Takes the account receivable securities of JD mall as an example,The paper is divided into five parts.Firstly,introduces the research background and significance of the article,analyzes the relevant literatures on consumer finance and asset securitization,and explains the structural design and innovation of the article.Then,This paper summarizes the concept and basic principles of consumer finance and asset securitization.Next,the paper discusses the development status of domestic Internet consumption finance and the origin of asset securitization,The significance of asset securitization in the background of Internet finance is summarized.The fourth chapter is case analysis,it analyzes the concept of JD's consumer financial products,the structure of asset-backed securities in securitization projects,project participants,and securitization operation procedures,analyze the motives of financing,evaluate the effectiveness of financing:including the products' performance in the market.the financial effects of securitization and the relationship between priority/subordinated bond yields and default rate.In the end,based on the analysis of the JD's blank note case,puts forward some policy Suggestions on the development of asset securitization in the future Internet finance industry in China.Through the JD's blank note case analysis,a large amount of money is collected to solve the problem of poor liquidity,the asset structure was optimized,it provides reference and thought for improving the assets financing dilemma of the internet consumer finance Industry.Besides,the securitization project of JD has also brought some innovations to China's Internet consumer finance companies.Taking consumer asset as the base asset,the innovation era of asset securitization business is started.Circular purchase is adopted on the transaction structure,use Internet + big data analysis to control risk.adopt structured classification,fully reduce financing costs.