Analysis on the development trend of supply chain financial service subject

1. Supply chain finance definition and business model

Supply chain finance is the provision of comprehensive financial services to a single enterprise in an industrial supply chain or to a number of upstream and downstream enterprises, to promote the supply chain core enterprises and upstream and downstream supporting enterprises "production-supply-sales" chain of stability and smooth flow, and through financial capital and industrial economic cooperation, to build the banking, enterprise and commodity supply chain mutually beneficial coexistence and sustainable development and benign interactive industrial ecology.

In the Supply Chain finance product classification, according to the enterprise trade process, transaction links and the different financing purposes can be divided into: (1) Order financing, refers to the supplier and the core enterprise after the signing of the order contract, the bank should be the borrower's application, in accordance with its real effective order contract, under the order of the expected sales money as the main source of repayment, Provide short-term financing to borrowers to meet the requirements of raw material procurement, organization production, construction and transportation of goods under orders. (2) Advance financing, that is, the future delivery rights financing business, to control the borrower to purchase the goods from the supplier of the right to take delivery of the means, the bank to the buyer to provide financing for the payment of suppliers, by the supplier according to the agreement according to the bank instructions for the business of delivery. Business model includes manufacturer's bank, confirming warehouse. (3) The financing of goods, refers to the borrower will own goods or goods to the bank as a guarantee of credit, and transfer to the bank directly occupied or through the bank entrusted by the supervision of the indirect possession of the business to obtain financing credit. The business model includes chattel pledge and warehouse receipt pledge. (4) Receivables financing refers to the borrower's right to require payment from the buyer for the provision of certain goods, services or facilities, including existing and future monetary claims and the proceeds thereof, in order to provide the bank with credit guarantee and obtain financing business.

2. Supply chain finance participation main body

No matter what business model, the implementation of supply chain finance cannot be separated from its participating subject. According to Zhu Wenfeng, the main players of supply chain finance are: (1) The demand main body of the Fund, namely the enterprise on the supply chain node, including the core enterprise and the supporting enterprise of the upstream and downstream; The core enterprise refers to the enterprise with larger scale and stronger strength in the supply chain, which can have a great influence on the logistics and capital flow of the whole supply chain In the supply chain financial services, the core enterprises can provide relevant guarantee for the upstream and downstream SME financing. Supporting enterprises are the demand of supply chain financial services, mainly in the weak small and medium-sized enterprises in the supply chain. They obtain loans from financial institutions by means of chattel collateral and third-party logistics enterprises or core enterprise guarantees. (2) Supply chain Finance's supply main body, namely the Commercial Bank, they provide the loan support for the small and medium-sized enterprise in the Supply chain financial service. (3) Third party supervision, that is, logistics enterprises. Third-party logistics is the main coordinator of supply chain financial services, providing logistics and credit guarantee services for small and medium-sized enterprises, and providing asset management services (supervision, auction, etc.) for banks and other financial institutions.

3. The future development trend of the supply chain finance main parties

3.1 Enterprises to implement supply chain management power strengthening

The implementation of supply chain finance enables enterprises to strengthen the supply chain management, because:

3.1.1 For small and medium-sized enterprises

Supply chain is an organic whole, each link affects each other. In the supply chain financial services, the Core Enterprise relies on its own advantage position and good credit, Help the disadvantaged enterprises in the supply chain by means of guarantee and commitment repurchase

3.1.2 for the core business

Supply chain financial business can provide counterparty credit guarantee for core enterprises, the management and financing of accounts receivable and the output supervision of the cooperation with the third party logistics enterprises, while preventing the core enterprises from breaking the capital chain, the core enterprises reduce the financing cost, reduce the ratio of assets and liabilities, and optimize the financial structure.

3.2 Competition between commercial banks intensifies

In the current financial market, not only domestic commercial banks, foreign banks and logistics enterprises are concerned about the financing of SMEs in the supply chain. Although the supply chain finance business in China has not been carried out for several years, but this market is very competitive.

Commercial banks should innovate financial products, not only from the financing mode (including the business varieties, business hours), but also through the supply chain to continuously open up innovative financial products.

3.3 Medium and small-sized Logistics enterprise market space is further squeezed

In the cooperation with the Bank, the logistics enterprises, in addition to providing comprehensive supervision service to the loan and collateral, will also provide a series of value-added services for the bank to improve the efficiency of credit guarantee.。 Therefore, the implementation of the supply chain financial services, to a large extent, also depends on the maturity and development of logistics industry, relying on logistics enterprises credit strength. However, the logistics environment in China is complex and chaotic, transport and warehousing norms lack of standards, the real right in circulation is difficult to obtain the corresponding guarantee. Management norms strength of the logistics company is also very scarce, most logistics company's distribution network is not perfect, information management system is relatively backward, it is difficult to meet the Bank of its real-time supervision, rapid response requirements. With the continuous improvement of the supply chain management system of various industries, in the process of the financial supply chain, on the one hand, the commercial bank has the control of the capital in order to choose the Logistics enterprise partner to play a certain leading role, on the other hand, to prevent capital risk, commercial banks to protect the stability of the financial supply chain operation, Tend to choose large scale, good reputation, comprehensive service ability, management norms of large-scale logistics companies to cooperate, such as in the storage and transportation, Sinotrans, China transportation and so on, and small and medium-sized logistics enterprises due to poor qualifications, network system is imperfect, low management capacity, low solvency and by the bank and supply chain upstream and downstream enterprises refused to cooperate in the scope, Market space is further squeezed.

3.4 The third party electronic Network application system technology platform becomes the important development direction

In the process of supply chain finance implementation, commercial banks provide financing services, need to understand and grasp the supply chain of orders, invoices, tracking, monitoring and related logistics, information flow and capital flow situation. China's domestic enterprises, the inconsistent application level of logistics and banking technology has not fully realized the information sharing, logistics and capital flow, which is required by the supply chain finance, and the traditional manual method can not provide timely and targeted financing services for the members of the supply chain, thus bringing about the cost of dividing the trade links and financing links. therefore，The third party electronic Network application system technology platform, which can realize the transformation and docking of the internal system information of the Commercial bank and the supply chain member, the third party logistics enterprise and other enterprises, has great growth space.