Risk Analysis Of The Accounts Receivable Backed Securitization Of "JD IOUS"

In recent years,with the rapid development of Chinese asset securitization and the maturity of the whole market,various asset securitization products are increasingly rich,product structure is more complex,and the public's acceptance of asset securitization products has gradually improved;on the other hand,the rapid popularization and development of the Internet in China has made the Internet consumer financial market more perfect.However,the Internet consumer finance platform has financing difficulties,which restricts its development.Faced with this situation,asset securitization has brought new ideas to solve the financing problem in the consumer finance industry,so many enterprises began to try to use asset securitization of accounts receivable for financing.On October 28,2015,JD successfully issued the first domestic Internet financial asset securitization product--The Accounts Receivable Backed Securitization of JD's ious on the Shenzhen Stock Exchange.The large amount of accounts receivable generated leads to the reduction of enterprise liquidity.JD tries to finance asset securitization to improve the liquidity of enterprise capital.This paper adopts comparative research method and case analysis method.Firstly,it systematically expounds the basic assets,participants and trading process of the asset securitization of JD'ious and explains the market performance of the products of asset securitization of JD'ious which have been issued.On this basis,it discusses the basic assets risk and participants of the asset securitization of JD'ious,asset-backed securities risk and other risks are analyzed in detail.Finally,the paper puts forward three preventive suggestions on the risks existing in JD's asset securitization financing using accounts receivable.At present,it seems that this kind of financing method similar to The Accounts Receivable Backed Securitization of JD's ious has a rapid development momentum.If its risk can be effectively controlled,it will inject liquidity into China's capital market and promote economic development.As the first Internet consumer finance industry,The Accounts Receivable Backed Securitization of JD's ious Plan for Accounts Receivable is the first product of Account Receivable Asset Securitization.Similar securitization of creditor's rights and assets of accounts receivable in China has great reference value.