中国自贸区供应链金融组织整合模式研究

Research on the Mode of Organization and Integration Financial in China's Free Trade Zone Supply Chain Finance

发展供应链金融能够突破自贸区地域空间限制、深度融入国内国际双循环。解决供应链金融市场参与不足、产品种类少、融资链条短等问题,核心在于将核心企业整合到整个金融活动中,以核心企业的信用背书和真实交易背景为融资活动提供信用增级,关键要解决由谁来组织整合并且提供金融服务等问题。文章通过研究海尔、京东、顺丰、用友软件等案例,发现供应链组织者或资金提供者可以由商业银行主导,也可以由核心企业、电商平台、物流公司或ERP软件提供商等多种主体提供。不同的组织者构成了不同的供应链金融主导模式,每种模式各有特点,各具优势。

The development of supply chain finance can break through the regional limitation of the free trade zone and deeply integrate into the domestic and international double cycles.To solve the problems of insufficient market participation,few types of product and short financing chain in the supply chain,the core lies in integrating the core enterprises into the whole financial activities and providing credit enhancement for financing activities based on the credit endorsement and real transaction background.The key lies in who will organize the integration and provide financial services.By studying the cases of Haier,Jingdong,Shunfeng and UFIDA,it is found that the supply chain organizer or capital provider can be dominated by commercial banks,or core enterprises,e-commerce platforms,logistics companies or ERP software providers and other entities.Different organizers constitute different dominating modes,each of which has its own characteristics and advantages.