the logic, risk change and policy trend of online supply chain finance-凯发k8天生赢家

the logic, risk change and policy trend of online supply chain finance

the dynamic mechanism of online supply chain finance

the driving force of online supply chain finance is the customer quantification and retail business

from the perspective of customers, the customer groups of supply chain finance span large and medium-sized enterprises, and take large customers as the entry point to actually serve small, medium and micro enterprises. supply chain finance provides financial services to the upstream and downstream enterprises through the supply chain of core enterprises. the core enterprises are generally large and medium-sized customers, while the enterprises on the chain are mostly small, medium and micro enterprises. the customers on the chain are widely distributed and scattered.

from the perspective of business characteristics, compared with traditional corporate business, supply chain financial business is characterized by small sum, short term, high frequency and complex process. supply chain finance is vividly called "retail business in corporate business", with obvious characteristics of mass and retail. for mass and retail businesses, the traditional single-transaction business model is difficult to sustain. the reform of operation cost constraint and risk control is an endogenous requirement, and the online business is the development path to solve the supply chain business.

products cross different lines and cross - department collaboration is the internal management needs of online supply chain finance

supply chain financial products span different lines, and customers' financial needs under the framework of supply chain finance are rich and diverse, including credit, account, settlement, cash management, asset management, securitization, etc., which span traditional commercial banking, transaction banking, and investment banking. traditional banking business is usually divided into corporate business, retail business, financial market business and asset management business, and then into credit products, cash management products, financial products and securitized products. supply chain finance focuses on the financial needs of each subject of the supply chain and objectively crosses different business lines and products. the products cross different lines and the internal collaborative cost is high, which drives the supply chain finance to be promoted in an online way. it is required to integrate different customer groups and products, and promote the coordination and even reconstruction of the internal alignment and departmental structure of the bank.

the risk revolution is the key to the online finance of supply chain

supply chain risk concept and risk logic have changed

supply chain finance business requires banks and financial institutions to evaluate the risk of a single debt-paying entity, which should be transformed into the debt-paying risk assessment of upstream and downstream enterprises with core enterprises as the main body. the comprehensive consideration of debtor rating and debt rating is a subversion of the idea of two - dimensional rating. supply chain finance has the commonness of trade finance, but also has the characteristics of high frequency, low amount, self-compensation, closure and continuity. from the financial information of a single enterprise, it is transformed into transaction information dominated and financial information supplemented. in essence, it is not based on the financial status or individual credit of the borrower, but a kind of credit granting based on the goods or services of the transaction chain that can generate future cash flow, thus minimizing risks.

grasp the essence of risk, from the core enterprise credit to transaction credit, from the main credit to "material credit", and actively establish "data credit".

from the perspective of supply chain financial credit, there are actually three different fulcrum points, one is based on the "principal credit" of the core enterprise, the other is based on the "material credit" controlling the transaction object, and the third is based on the "data credit" of transaction information analysis. at present, the common business model in the market is mainly the principal credit, which is allocated to the upstream suppliers, or the credit of the core enterprise is transmitted to the downstream dealers through guarantee and margin buyback. for the control product "material credit" is in the attempt, from the control of goods, valuation, disposal and other links to improve the "material credit". data credit is a development direction. it uses big data to build "data credit" and "data assets". it builds "data credit" through data mining and analysis through supply chain business flow, logistics, capital flow and information flow.

risk management should be based on macro and medium perspectives

from the industry access, then select the core enterprises in the supply chain, using data analysis to select enterprises on the chain. conduct closed-loop management of products, evaluate and monitor market changes, and quickly iterate.

policy trends and recommendations

policy trends

at the national level, the development of supply chain is regarded as a national strategy. in 2017, the general office of the state council issued the guiding opinions on actively promoting the innovation and application of supply chain. at the ministerial level, the ministry of commerce and other eight departments issued the notice on launching supply chain innovation and application pilot projects in 2018 and the notice on further improving supply chain innovation and application pilot projects in 2020. in terms of financial supervision, circ issued the guidance opinions of the general office of circ on promoting supply chain finance to serve the real economy in 2019, which is the first policy of the regulatory authorities on supply chain finance. the circular on strengthening the coordination of industrial chain to resume work and production of financial services will be issued in 2020, which highlights that the regulatory authorities continue to attach importance to supply chain finance and move from principle to implementation.

policy suggestions

policies and regulations are the institutional basis for the development of supply chain finance. supply chain financial policy should proceed from the overall ecology of the supply chain, follow the principles of marketization and rule of law, and take the online route of supply chain finance as the path, so as to form a reasonable incentive and compatible mechanism to mobilize the enthusiasm of core enterprises, upstream and downstream small, medium and micro enterprises and financial institutions. it not only provides the direction of regulatory policies, but also provides the institutional arrangement of key nodes to promote the benign development and substantial improvement of supply chain finance.

the last

compared with other financial categories, supply chain finance is superior to other financial products in terms of covering subjects and risk control. in addition, from policy encouragement to implementation and legislation improvement, it also indicates that the future development of supply chain finance is bound to be decisive, which plays a crucial role in solving the problem of supply chain financing and stimulating the development of market economy.

source: sina finance and economics