On March 20, the Asset Securitization Business Registration Office of the Asset Management Association of China released a brief report on the operation of enterprise asset securitization business in February. In February 2024, a total of 66 enterprise asset securitization products were confirmed with a total newly registered scale of 599.84 billion yuan. The new registered scale in February decreased by 58% compared to the previous month and decreased by 32% year-on-year. In terms of primary asset classification, the new registered scale of debt-based products in February was 380.83 billion yuan; REITs-based products were 208.86 billion yuan; future operating income-based products were 8.16 billion yuan; and other types were 2 billion yuan. In terms of secondary asset classification, the total new registered scale of accounts receivable, real estate-backed ABS, financing lease receivables, and public infrastructure REITs accounted for 74.56% of the monthly registered scale. Distribution of existing product assets As of the end of February 2024, there were 2,296 existing enterprise asset securitization products with a total scale of 19,693.79 billion yuan, a decrease of 0.19% compared to the previous month. In terms of secondary asset classification, the total scale of existing accounts receivable, commercial mortgage-backed securities (CMBS), financing lease receivables, real estate-backed ABS, small loan receivables, and public infrastructure REITs products was 17,061.23 billion yuan, accounting for 86.63% of the total existing scale. Other categories of products such as infrastructure toll-based, affordable housing, and factoring financing receivables had a total existing scale of 2,632.56 billion yuan, accounting for 13.37% of the total existing scale.