The Analysis of Asset-Backed Security Backed by Online Consumer Loan

Research Article
Open access

The Analysis of Asset-Backed Security Backed by Online Consumer Loan

Ziyi Jia 1* , Yuwei Chen 2 , Jianing Lang 3 , Peidong Li 4
  • 1 College of Art and Science, Department of Mathematics and Statistics, Boston University, Boston, 02215, USA    
  • 2 Wuhan Britain China School, Wuhan, 430000, China    
  • 3 School of public finance and taxation, Shandong university of Finance and economics, Jinan, 250000, China    
  • 4 Muir College, Applied Math, University of California, San Diego, San Diego, 92093, USA    
  • *corresponding author freda9999@outlook.com
Published on 21 March 2023 | https://doi.org/10.54254/2754-1169/4/20221078
AEMPS Vol.4
ISSN (Print): 2754-1177
ISSN (Online): 2754-1169
ISBN (Print): 978-1-915371-17-1
ISBN (Online): 978-1-915371-18-8

Abstract

The "pause button" on Ant Group's dual listing in September 2020 attracted great attention from the fintech companies regarding their use of asset-backed securities (ABS) to lend huge amounts of money to consumers. Chinese regulators responded to this financial practice and introduced a series of regulations to minimize the potential risks of these lending activities and the adverse impacts on consumers. In this paper, the author explains how fintech companies use ABS to conduct their loaning activities, analyzes the risks presented in the industry, and introduces the corresponding policies and regulations.

Keywords:

Asset-Backed Security, Ant Group's., Online Consumer Loan

Jia,Z.;Chen,Y.;Lang,J.;Li,P. (2023). The Analysis of Asset-Backed Security Backed by Online Consumer Loan. Advances in Economics, Management and Political Sciences,4,292-302.
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References

[1]. Li Meng "Statistical Data Report of Microfinance Companies in the First Half of 2021.", People's Bank of China, http://www.gov.cn/xinwen/2021-07/28/content_5627905.htm.

[2]. Zhong Guo Xiao e Dai Kuan Gong Si Hang Ye Fa Zhan Bao Gao 2005-2016. Zhongguo Jing Ji Chu Ban She, 2016.

[3]. Zhao, Y.N. (2017) Research on the Consumer Finance System of Ant Financial Service Group. American Journal of Industrial and Business Management, 7, 559-565. https://doi.org/10.4236/ajibm.2017.75041

[4]. MobTech. (2020) 2020 Chinese Commercial Finance Industry Research Report. https://www.mob.com/mobdata/report/121

[5]. Rohit Kumar, and Rahul Shah, (2021) China takes another swipe at Ant Group: Credit and data assets split out. https://tellimer.com/article/china-takes-another-swipe-at-ant-group-credit

[6]. DAGONG GLOBAL CREDIT RATING CO., LTD. "Credit Asset Securitization Market." Credit Asset Securitization Market 2021 Annual Report n. pag. Web. April 20th. 2022.

[7]. 2020 China's Consumer Finance Industry The Research Report." MobTech, n.d. Web. April 20th. 2022.

[8]. Zhang, Luoyu, and Yongmao Wang. "Research on Financing Mode of Small and Micro Enterprises under E-Commerce Big Data Finance." 2018.07 (2018): n. pag. Web. April 20th. 2022.

[9]. Hou, Jia Liang. "Innovation and Supervision of Consumer Credit Asset Securitization Business." N.p., n.d. Web. April 21st. 2022.

[10]. Wen, Yicun. "The\ Establishment and Development of Consumer Credit System." 17.1 (2021): n. pag. Web. April 21st. 2022.

Cite this article

Jia,Z.;Chen,Y.;Lang,J.;Li,P. (2023). The Analysis of Asset-Backed Security Backed by Online Consumer Loan. Advances in Economics, Management and Political Sciences,4,292-302.

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About volume

Volume title: Proceedings of the 6th International Conference on Economic Management and Green Development (ICEMGD 2022), Part Ⅱ

ISBN：978-1-915371-17-1(Print) / 978-1-915371-18-8(Online)
Editor：Canh Thien Dang, Javier Cifuentes-Faura
Conference website: https://www.icemgd.org/
Conference date: 6 August 2022
Series: Advances in Economics, Management and Political Sciences
Volume number: Vol.4
ISSN：2754-1169(Print) / 2754-1177(Online)

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References

[1]. Li Meng "Statistical Data Report of Microfinance Companies in the First Half of 2021.", People's Bank of China, http://www.gov.cn/xinwen/2021-07/28/content_5627905.htm.

[2]. Zhong Guo Xiao e Dai Kuan Gong Si Hang Ye Fa Zhan Bao Gao 2005-2016. Zhongguo Jing Ji Chu Ban She, 2016.

[3]. Zhao, Y.N. (2017) Research on the Consumer Finance System of Ant Financial Service Group. American Journal of Industrial and Business Management, 7, 559-565. https://doi.org/10.4236/ajibm.2017.75041

[4]. MobTech. (2020) 2020 Chinese Commercial Finance Industry Research Report. https://www.mob.com/mobdata/report/121

[5]. Rohit Kumar, and Rahul Shah, (2021) China takes another swipe at Ant Group: Credit and data assets split out. https://tellimer.com/article/china-takes-another-swipe-at-ant-group-credit

[6]. DAGONG GLOBAL CREDIT RATING CO., LTD. "Credit Asset Securitization Market." Credit Asset Securitization Market 2021 Annual Report n. pag. Web. April 20th. 2022.

[7]. 2020 China's Consumer Finance Industry The Research Report." MobTech, n.d. Web. April 20th. 2022.

[8]. Zhang, Luoyu, and Yongmao Wang. "Research on Financing Mode of Small and Micro Enterprises under E-Commerce Big Data Finance." 2018.07 (2018): n. pag. Web. April 20th. 2022.

[9]. Hou, Jia Liang. "Innovation and Supervision of Consumer Credit Asset Securitization Business." N.p., n.d. Web. April 21st. 2022.

[10]. Wen, Yicun. "The\ Establishment and Development of Consumer Credit System." 17.1 (2021): n. pag. Web. April 21st. 2022.

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