Negative list management mainly refers to the listing of basic assets that are not suitable for asset securitization business or do not meet the regulatory requirements of asset securitization business. For details, please refer to the Guidelines on Negative List of Basic Assets of Asset Securitization Business issued by the Fund Industry Association. The basic assets of asset securitization shall comply with the provisions of relevant laws and regulations such as the Provisions on the Administration of Asset Securitization Business of Subsidiaries of Securities Companies and Fund Management Companies, and do not belong to the category of negative list.