CITIC Securities - DIDI assets-backed plan received a no-objection letter from the Shanghai Stock Exchange (SSE) on March 19, thus making it the supply chain finance assets-backed securities product supporting transportation in China. As an effective combination of internet technology and supply chain in the field of assets securitization, it has offered financial innovation for the internet technology to serve the development of real economy, the financing of small and medium-sized enterprises (SMEs) and the day-to-day livelihood of the public.
The "Guidelines on Promoting the Supply Chain Innovation and Application", released by the General Office of the State Council in October 2017, stipulates the ideas of innovatively developing new concepts, new technologies and new modes of supply chain, efficiently integrating various resources and elements, creating a smart supply chain system supported by big data, shared through internet and coordinated intelligently, and encouraging the establishment of a supply chain financial service platform. All this contributes to offering efficient and convenient financing channels for SMEs in the downstream and upstream supply chain.
Relying on the big data risk control and payment management capacity of DIDI, this program takes vehicle leasing company's lease claims against drivers as the basic assets. DIDI would carry out securitization financing on behalf of leasing companies and manage and transfer the revenue from taxi operation. DIDI provides a one-stop integral mobile transportation platform with 21 million driver terminal users and 450 million passenger terminal users. Its clients also include vehicle leasing companies and automobile dealers. By now, DD boasts of its daily orders at over 25 million. This program realizes credit support through dispersed leasing credit assets of small amounts and highlights the asset-backed securities' features of assets credit, thus dispersing risks. Its launch will provide business development with assets support, facilitate the coordinated development of corporate ecological chain, solve the SMEs' financing difficulty, and also inject new vitality to pubic transportation.
As pointed out in the Report of the 19th CPC National Congress, renewed effort will be made to accelerate the building of an industrial system that promotes coordinated development of the real economy with technological innovation, modern finance, and human resources, continue to guarantee and improve people's livelihood through development, improve people's well-being, improve the public service system, and keep up with people's ever-growing needs for a better life. Serving people's livelihood demands by financial products is an irresistible trend in financial development. The successful launch of this program marks an important measure of the SSE to urge the supply chain finance to serve the real economy and the social people's livelihood under the leadership of the China Securities Regulatory Commission (CSRC) after "MI" and "ANT". Next, the SSE is expected to keep the implementation of the guidelines of the Party Central Committee and the State Council, promote the supply chain finance, and serve the real economy and the day-to-day livelihood of the public from multiple perspectives, in different fields and by diversified methods.