Group 1 - In August 2025, a total of 99 new asset-backed special plans (ABS) were registered, with a combined scale of 875.92 billion yuan [1] - The top three ABS underlying assets by registration scale were accounts receivable (250.89 billion yuan), micro-loan receivables (213.01 billion yuan), and financing lease receivables (189.73 billion yuan) [1] Group 2 - As of the end of August 2025, there were 2,573 active ABS with a total scale of 21,891.65 billion yuan [2] - Among these, 80 ABS related to infrastructure public REITs had a total scale of 1,968.53 billion yuan [2] - The total scale of ABS with underlying assets such as accounts receivable, real estate holding ABS, CMBS, financing lease receivables, and micro-loan receivables accounted for 79.02% of the total active scale, amounting to 17,299.04 billion yuan [4]

Group 1 - In July 2025, a total of 153 new asset-backed securities (ABS) were registered, with a combined scale of 1,440.49 billion yuan [2] - The top three ABS underlying assets by registration scale were financing lease receivables (313.66 billion yuan), accounts receivable (309.34 billion yuan), and small loan receivables (247.95 billion yuan) [2] - As of the end of July 2025, there were 2,557 ABS in existence, totaling 21,646.76 billion yuan, with 79 of them being infrastructure public REITs amounting to 1,951.30 billion yuan [5] Group 2 - The total scale of ABS with underlying assets such as accounts receivable, real estate holding ABS, CMBS, financing lease receivables, and small loan receivables accounted for 17,066.48 billion yuan, representing 78.84% of the total existing scale [5] - The remaining ABS with other underlying assets had a total scale of 2,628.99 billion yuan, which accounted for 12.14% of the total existing scale [5]

Core Insights - In July 2025, the China Securities Investment Fund Industry Association reported that 153 new asset-backed special plans (ABS) were registered, with a total registration scale of 1440.49 billion yuan [1] - The top three ABS underlying assets by registration scale were financing lease receivables, accounts receivable, and small loan receivables, with scales of 313.66 billion yuan, 309.34 billion yuan, and 247.95 billion yuan respectively [1] Summary by Category - **New Registrations** - 153 new ABS were registered in July 2025, totaling 1440.49 billion yuan [1] - Public REITs in infrastructure accounted for 6 new ABS registrations, with a scale of 147.33 billion yuan [1] - **Existing ABS** - As of the end of July 2025, there were 2557 ABS in existence, with a total scale of 21646.76 billion yuan [1] - Public REITs in infrastructure had 79 existing ABS, amounting to 1951.30 billion yuan [1] - **Underlying Asset Composition** - The existing ABS with underlying assets of accounts receivable, real estate holding ABS, CMBS, financing lease receivables, and small loan receivables totaled 17066.48 billion yuan, representing 78.84% of the total existing scale [1] - The remaining ABS with other underlying assets amounted to 2628.99 billion yuan, accounting for 12.14% of the total existing scale [1]

Group 1 - As of June 2025, the Asset-Backed Securities (ABS) market in China saw the registration of 100 new plans with a total scale of 92.341 billion yuan [1] - The top three ABS underlying assets by registration scale are financing lease receivables, accounts receivable, and micro-loan receivables, with scales of 29.401 billion yuan, 21.291 billion yuan, and 14.360 billion yuan respectively [1] - The total number of existing ABS reached 2,513 with a total scale of 2,133.882 billion yuan by the end of June 2025 [4] Group 2 - The existing ABS related to infrastructure public REITs includes 73 plans with a scale of 180.396 billion yuan [4] - The combined scale of ABS related to accounts receivable, real estate holding ABS, commercial mortgage-backed securities (CMBS), financing lease receivables, and micro-loan receivables is 1,691.377 billion yuan, accounting for 79.26% of the total existing scale [4]

Group 1 - In May 2025, the China Fund Industry Association reported that 132 new Asset-Backed Securities (ABS) products were registered, with a total registration scale of 120.619 billion yuan [1] - As of the end of May 2025, there are 2,509 ABS products in existence, with a total scale of 2,132.766 billion yuan [1] - Among these, there are 71 ABS products related to public REITs in infrastructure, with a scale of 177.953 billion yuan [1]

Group 1 - In March 2025, a total of 98 asset-backed securities (ABS) products were newly registered [1] - The total newly registered scale amounted to 79.006 billion yuan [1]