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Consumption-based asset-backed..........>

CHINA PRESS
CHINA PRESS: Consumption-based asset-backed securities ballooned this year, with
the subset of consumer spending securities ranking first in the market, the
Securities Times reported Wednesday. In the first three quarters of this year,
CNY160.804 billion in consumer spending-related ABS were issued, 4.4 times the
value issued in the same period last year. Issuers are mainly internet retail
giants such as Alibaba and JD.com because small-scale companies face many
difficulties in issuing such securities. Also, the secondary market for ABS
still lacks liquidity, although the total amount of ABS issuance has jumped, the
newspaper said. (Securities Times)

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