摘要随着互联网行业的发展，京东电商平台等一系列互联网企业依托强大的用户大数据库系统和规模宏大的用户流量，使用户能够借助平台享受到便捷的信贷和信用赊销服务。但是随着互联网消费金融信用赊销产品的广泛使用，使得京东也积累下了规模巨大的应收账款。基于提供信用赊销服务所产生的规模巨大的应收账款，使得企业面临严峻的资产流动性降低、回流速度放宽等不合理的资产结构发展困境。因此，企业为切实增强流动效率不高金融资产的使用效果，大力推行资产证券化业务，从而应收账款证券化应运而生。本文选取京东白条应收账款资产证券化这一典型案例，先对京东集团以及京东白条应收账款资产证券化背景进行概述，然后从增加资产流动性和降低成本两个方面分析其实施动因，通过对基础资产的构成、信用增级的方式以及交易结构及过程的研究，详细说明资产证券化的实施过程。最后，从前文的分析出发，对于资产证券化存在的问题提出相应的的完善建议，为后续计划实施资产证券化的企业提供一定的理论基础。关键词：京东白条；应收账款；资产证券化ABSTRACTWiththedevelopmentofInternetindustry,InternetenterprisesledbyJingDong(JD)e-commerceplatformprovidescreditsaleandloanservicesfortheirplatformusersbypowerfuluserflowandlargedatabasesystemofconsumers.However,withthewideuseofInternetconsumerfinancecreditproducts,JDhasaccumulatedalargescaleofaccountsreceivable.Theliquidityofaccountsreceivableassetsformedbycreditsaleisweak,whichbringssomeproblemstotheenterprise,suchastheoccupationofcapital,theslowreturnofcapitalandsoon.Asaresult,assetsecuritizationprovidesafeasibleplanforactivatingthispartoffinancialassetswithpoorliquidity.ThispaperselectsthetypicalcaseofJingdongBaitiaoreceivablesassetsecuritization,firstsummarizesthebackgroundofJingdonggroupandJingdongBaitiaoreceivablesassetsecuritization,andthenanalyzesitsimplementationmotivationfromtwoaspectsofincreasingassetliquidityandreducingcost.Throughtheresearchonthecompositionofbasicassets,thewayofcreditenhancementandthetransactionstructureandprocess,thispaperexplainstheassetsindetailTheimplementationprocessofsecuritization.Finally,basedontheaboveanalysis,thepaperputsforwardcorrespondingsuggestionsfortheproblemsofassetsecuritization,whichprovidesatheoreticalbasisforthesubsequentplanofimplementingassetsecuritization.Keywords:JingdongBaitiao,Accountsreceivable,AssetSecuritization目录TOC\o"1-3"\h\z\uHYPERLINK"C:\\Users\\Administrator\\Desktop\\终于定稿的第七版-罗淑(自动保存的).docx"\l"_Toc38720906"摘要PAGEREF_Toc38720906\hIHYPERLINK"C:\\Users\\Administrator\\Desktop\\终于定稿的第七版-罗淑(自动保存的).docx"\l"_Toc38720907"1绪论PAGEREF_Toc38720907\h1