| With the development of China’s market economy,financial innovations continue to emerge.In the context of strict national control of real estate,many traditional financing channels for real estate development companies are restricted,supply chain financial asset-backed securitization,as an innovative financial model,has been sought after by major real estate development companies.Through using the credit of real estate development companies and real transactions of upstream and downstream companies,supply chain finance can not only solve the problem of financial difficulties、high financing costs for SMEs,but also alleviate the difficulty of real estate development enterprises’ cash flow shortage and further promote the healthy development of the entire supply chain.The present study first analyzes the status quo of China’s real estate development companies’ applying supply chain financial asset securitization.On this basis,the author has chosen Vanke as a case company to study the risks and risk control measures of real estate development companies implementing supply chain financial asset securitization.The case introduces the basic information of the supply chain financial asset securitization project,and then analyzes in detail the risks that the core companies will face when applying the supply chain ABS,such as the external risks,financial risk and securitization risk.Finally,control suggestions are put forward for these three aspects of risk.The author hopes that through the case study of Vanke’s supply chain financial asset-backed securities,the present study can help more companies that intend to implement supply chain financial assetbacked securities to better understand the financing channel,its risks facing during the implementation process and countermeasures,so as to play the role of supply chain finance better. |
