Research On Securitization Of Internet Consumption Financial Assets

Now,China's economy is in the period of structural transformation and upgrading,consumption in the proportion of China's economy gradually increased.Since 2011,China's total retail sales of consumer goods has been growing by the average annual rate of about 13%,significantly higher than the average growth rate of GDP.By the year of 2016,China's total retail sales of consumer goods was 33,231.60 billion yuan,increasing by 10.4% from last year's same period.Under the background of economic downturn and export weakness,high leverage of enterprise and government,consumption has becoming the most important role in the growth of GDP.In order to increase the contribution of consumption to the economy,the state has issued various preferential policies to promote the support of credit for consumption.During the World Internet Conference in the year of 2014,Premier Li pointed out that the Internet is a new tool of popular entrepreneurship and innovation.Since then,the various walks of life began to use the Internet to raise the operation efficiency.E-commerce platform Begin to enter the field of internet consumer finance based on the advantage of their own large data risk control technology,such as Ali and Jing dong.The financial channels of Internet consumer finance company is limited,most rely on shareholder capital and loan,trusts,private funds and other high-cost non-standard funds,high financing cost hinder the contribution of credit to consumption.At the end of 2014,corporate asset securitization and credit asset securitization were implemented by filing system,so the efficiency of issuance is greatly improved.Internet consumer finance companies begin to finance in the open market by means of asset securitization.As asset securitization is still in the early stages of development in China,the relevant research and practical experience is insufficient.By the method of literature research,industry interview and expert consultation,the contents on the Internet consumer financial securitization I have completed are as follows.Firstly,this article discusses the current situation and development problems of the domestic Internet finance,and introduces the basic concepts of asset securitization and transaction structure.Secondly,this article introduces the design process of securitization products of Internet consumer financial assets from the aspects of asset pool construction,product debt rating and structural analysis of product design.Finally,this article summarizes the future development direction of Internet consumer finance securitization and its shortcomings.