On February 26, the Asset Securitization Business Registration and Operation Briefing for January 2024 was released by the Asset Management Association of China. The data showed that in January 2024, a total of 139 enterprise asset securitization products were registered, with a total newly registered scale of 142.8 billion yuan (see Figure 1). The newly registered scale in January increased by 41% compared to the previous month and 34% year-on-year. By primary asset classification, in January, the newly registered scale of debt-based products was 128.281 billion yuan; REITs products was 12.648 billion yuan; future operating income products was 1.68 billion yuan; and other products was 0.211 billion yuan. By secondary asset classification, accounts receivable, micro-loan debt, financing lease debt, and real estate-based ABS products accounted for 91% of the monthly registration scale (see Table 1). Distribution of existing products based on underlying assets As of the end of January 2024, there were a total of 2,313 existing enterprise asset securitization products with a total scale of 1,973 billion yuan, an increase of 2.56% from the previous month. By secondary asset classification, the total scale of accounts receivable, commercial real estate mortgage loans (CMBS), financing lease debt, micro-loan debt, real estate-based ABS, and public infrastructure REITs products was 1,702.019 billion yuan, accounting for 86.26% of the total existing scale (see Figure 2). Other categories such as infrastructure tolls, affordable housing, and factoring financing debts had a total existing scale of 271.018 billion yuan, accounting for 13.74% of the total existing scale.