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shenzhen an important step micro-credit asset securitization

         with the constant widening financing channels, micro-credit asset securitization in shenzhen back into reality. recently, guangdong pacific assets management (group) limited (xia said "pacific funding tube") and shenzhen joint property exchange (xia said "shenzhen joint make by"), and qian sea financial assets exchange (xia said "qian sea gold make by") signed agreement, common launched small loan assets repo type financing business, for small loan company provides financing, and and two home small loan company site signed. the business was located in the private debt, the small loan company high quality small and micro loans and a share split, in the local exchange of property rights transfer, due by micro-credit companies. pacific capital source in a tube with the shenzhen small loans and gold run two micro-credit micro-credit companies signed an agreement through the transfer of property right exchange in the credit assets income right of way, which provided financing totalling 80 million yuan, which sources in small loans obtained 50 million yuan, kim yun-small loans get 30 million yuan. chen baoguo says the product name is "a secure surplus-assets income right of microcredit", the product is the micro-credit for the transfer of assets income right, small loan company, 5 million yuan of assets following the micro-credit and micro-loans of 50,000 yuan, after the expiry of the transfer, will consist of small loan companies.   
pacific information management does not consider the business belongs to the asset-backed securitization, but industry insiders believe, is asset securitization of a business nature and shenzhen finance office also said credit assets income right, small-loan asset-backed securities in shenzhen in the first most important step.   
according to the trading rules, the business of small loan companies, registered capital, the business must meet the local minimum regulatory requirements, business for not less than one year and consistently profitable, such as real estate, steel trade and regulatory policy "conflicts" small loan assets which cannot be transferred.   
chen baoguo introduced according to the trading process, "steady gains" commend the pacific information management as the primary dealers and underwriters, responsible for screening small loan companies, will meet the requirements of the asset package recommended to exchange transfers. promotion expires, raise funds to achieve the tone of transfer conditions, exchange transfers. shenzhen stock exchange as registered trusteeship and oversight bodies, the qualification of projects, supervise the movement of funds.   
on february 20, shenzhen issued relevant policies, in addition to banks, small loan company in shenzhen over the past sea gold exchange, former sea equity trading center and other compliance channels through the securitization of credit assets, lending, loans and other financing, net asset limit for the previous year's 200%. up to now, the source in small loans net worth of 200 million yuan, kim yun-small loans for 150 million yuan.   
"on the nature of the product, ' stable profit ' is among those products instead of securitised products. "chen baoguo says the product positioning in the private markets, transfer of small loan company is the right to return, and funding in place, assets changes name to investors, after expiration of buy-back, then change to a small loan company assets without a table, only for the transfer of rights in proceeds rather than the asset itself, is therefore not the asset securitization products.   
, "transfer of rights in proceeds more than circulation, exchange is access to capital, from nature, is still equity products. "chen baoguo says.   
dong dengxin, wuhan science and technology university said, the narrow core of asset securitization, is whether the assets stripped from the table, but also depends on the specific situation. if a bank's operating mode is any guide, gains from the alienation of rights is also a way of asset securitization. shenzhen finance office also said the right to proceeds of credit assets, shenzhen in the first small step of the securitization of credit assets most important, will enlarge the financing channels of small local loans company, through the development of micro-credit financing bottlenecks.   
p2p platform involved in the sell   
"according to past experience, 3 april each year is low season, but this year the situation is more than expected, market demand is very strong. "a small loan company told reporters in shenzhen, in the face of corporate financing needs, a lot of small loan companies face a dilemma with no money to lend.   
it is worth noting is that the micro-credit asset transfer of rights in proceeds, p2p platform figure appears in the distributor. the pacific information management was founded in 2003, has been involved in investment banking, private equity, p2p and other fields. baoguo chen said in addition to pacific information management itself, its name in the p2p platform benefit voted into, will also share some of these assets to sell.   
and this brings higher returns for investors. promotional material shows that small loan company's comprehensive cost of financing is expected to 13%~18%, while investors an annual income is estimated to be about 10%. previously, chongqing gold exchange's launch of this business yields are lower than this. according to its website the information displayed, in october and november last year, chongqing gold exchange total of 10 small loans are put right to return products, in june, yields to 7%, a year is 8.5%.   
in accordance with the "steady gains" deal structure, which open only to qualified institutional investors and individual investors, investment thresholds for 50,000 yuan, during the term of the investment, can be transferred through the exchange. equity investors can exchange queries and understand the product and the operating conditions of the issuer, the guarantor.   
chen baoguo says, as a security measure, the product provided by a third-party guarantee agencies guarantee principal and interest, and established a due preparation, risk and other risk control measures, if failing to buy back small loans companies, by the secured party to compensate.
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