2024中国供应链金融科技行业蓝皮书

Industry Overview - The supply chain finance market in China has grown rapidly, with asset balances increasing from RMB 23.1 trillion in 2019 to RMB 37.3 trillion in 2023, representing a compound annual growth rate (CAGR) of 12.8% [9][10] - The total transaction volume of supply chain finance in China reached RMB 75.2 trillion in 2023, with a CAGR of 11.5% from 2019 to 2023 [11][12] - The supply chain finance market is expected to reach RMB 104.0 trillion by 2028, driven by economic recovery and technological innovation [12] Core Assets and Market Trends - The three core assets in supply chain finance—accounts receivable, prepayments, and inventory—grew from RMB 72.6 trillion in 2019 to RMB 99.9 trillion in 2023, with a CAGR of 8.3% [7][8] - The COVID-19 pandemic slowed growth in 2020, but recovery began in 2021, with total core assets projected to reach RMB 136.5 trillion by 2028, growing at a CAGR of 6.4% [8] - The market is expected to benefit from increased digital transformation and regulatory support, with a focus on improving supply chain resilience [8][10] Key Players and Ecosystem - In 2023, there were 15,122 core enterprises and 2,191 financial institutions participating in the supply chain finance market [19][22] - Leading financial institutions and core enterprises are increasingly adopting supply chain finance platforms, with penetration rates expected to rise from 29% in 2023 to 52% in 2028 for core enterprises, and from 34% to 54% for financial institutions [23][24] - The ecosystem includes suppliers, financial institutions, core enterprises, and third-party technology providers, with a focus on improving transparency and efficiency [23][24] Technological Solutions and Market Growth - Supply chain finance technology solutions, leveraging AI, blockchain, and big data, have seen rapid growth, with total transaction volume increasing from RMB 4.4 trillion in 2019 to RMB 9.9 trillion in 2023, a CAGR of 22.4% [38][39] - The market for third-party supply chain finance technology solutions is expected to grow at a CAGR of 20.3% from 2023 to 2028, reaching RMB 440 billion in spending by 2028 [41] - Third-party solutions reduce time and cost by 85.0% and 79.1%, respectively, compared to in-house development, making them increasingly attractive to core enterprises and financial institutions [42][43] Policy and Regulatory Environment - The Chinese government has introduced multiple policies since 2017 to accelerate the digital transformation of the supply chain finance industry, including the establishment of demonstration cities and enterprises [46][47] - Recent regulations, such as the "Guiding Opinions on Strengthening Financial Services for Technology Enterprises" in 2024, emphasize the importance of supply chain finance in supporting small and medium-sized enterprises (SMEs) [47] - Financial regulators are promoting innovation and openness in the supply chain finance sector, encouraging the use of advanced technologies like blockchain and big data [47] Competitive Landscape - The supply chain finance technology market is highly concentrated, with the top five players accounting for over 70% of the market share in supply chain finance technology solutions and over 60% in ABS and ABN product issuance [52][53] - Leading companies, such as Lianlian DigiTech, Ant Group, and JD Technology, dominate the market with their advanced technological capabilities and extensive industry expertise [50][51] - The market is characterized by a strong focus on innovation, with companies offering a wide range of products and services, including core enterprise clouds, financial institution clouds, and cross-border solutions [50][51]