Research On Accounts Receivable Financing Model In Supply Chain Finance

In 2013,the Third Plenary Session of the 18th CPC Central Committee established “development of inclusive finance” as a national strategy.In recent years,the development of China's inclusive finance has achieved good results.Under the background of vigorously developing inclusive finance,the financing of SMEs has received support at the national level.However,due to the ins ufficient financial situation,the inadequate financial management system,the relatively high risk of self-employment and the inability to provide collaterals that meet the requirements of banks,China's SMEs have always had difficulties in financing.How to seize the opportunity of inclusive finance and improve the financing difficulties of SMEs is a problem worthy of study in China's financial market.In this context,supply chain finance has become an effective model for solving the financing difficulties of SMEs.Under supply chain finance,banks can manage the capital flow and logistics of upstream and downstream SMEs around core enterprises,and transform the uncontrollable risks of individual enterprises into controllable risks of supply chain enterprises as a whole,then keep risk to a minimum.The three main models of supply chain finance are accounts receivable financing,prepayment financing and movable property pledge financing.At present,the main mode adopted by domestic supply chain financing platforms is accounts receivable financing.DFDL is a line component factory that mainly produces transmission line towers.As a typical medium-sized traditional manufacturing company,DFDL is also facing difficulties in financing.Amo ng the assets of DFDL,accounts receivable accounted for more than half of the accounts,and most of the customers of accounts receivable were the core enterprises in the supply chain of the transmission line tower industry,which are the large state-owned enterprises with good credit level such as the State Grid.Using DFDL's large number of high-quality accounts receivable to design its accounts receivable financing plan can effectively solve the problem of DFDL financing difficulties,and also provide the reference for other similar SMEs' in the upstream and downstream of supply chain core enterprises.