Research On Asset Securitization Financing Of Non-bank Consumer Financial Institutions Based On Trust Structure

Since the 18th National Congress of the Communist Party of China,the central government has adhered to adopt the financial regulation policy,and the central bank has conducted supervision and introduced a series of detailed rules with the aim to guide the financial industry to benefit real economy and develop inclusive finance.In this way,we can make the domestic financial economy developing in a healthy and stable way like before,thus ultimately improving the living standards of residents.Consumer finance,as an important part of inclusive finance,has met a rare development opportunity and occupied great status in China.On the one hand,this is because China has adopted policy to expand domestic demand,and vigorously encouraged the consumption of residents.On the other hand,domestic consumer credit leverage(excluding mortgage loans)still remains at a low level,and there is great room for development.However,since the consumer finance industry is in the early stages of development,there are many obstacles hindering its development,especially the problem of the financing opportunities and financing costs of the non-bank consumer financial institutions,which constrain its development to a large extent.Asset securitization is an important way to solve the problem of capital,but many shortcomings remain to be improved.Therefore,the author,according to her own observation of the industry,has referred to relevant researches,conducted analysis to consumer finance industry,and then explored methods to solve the problem based on practical trust working experience.The first part of this article defines the consumption finance and analyzes the conditions of its development.Then it introduces the development course and the main participants of the domestic consumption finance industry,and compares it with that of Japan and the United States and other major economiesThe second part emphasizes that the largest demand and difficulty of the consumer finance industry lies in financing.Asset securitization is one of the ways to solve the financing problem.However,currently we have encountered many obstacles in securitization,so the author analyzes the reasons for the above problems from two aspects,including the industry participants and the financial capital.The third part puts forward a series of methods to utilize trust structure to solve problems of the non-bank consumer financial institutions at the current stage from the perspective of trust,as well as practice in the field of securitization.At the same time,it explores the pre-ABS,scientific stratification of securitization,mezzanine investment,visualization and trading of securitized assets in the consumer finance industry.The goal of the paper is to guide and realize the benign and sustainable development of the consumer finance industry through a certain degree of financial innovation.