1, ABS is a financing method oriented to asset returns. The traditional financing method depends on the credit ability of the fund demanders. When external investors decide whether to invest or provide loans to capital demanders, they mainly rely on the overall assets, liabilities, profits and cash flow of capital demanders, and pay less attention to the quality of some specific assets owned by the company. ABS, on the other hand, is financed by the future earning capacity of some assets of the original owner, and the solvency of the assets itself is completely separated from the credit capacity of the original owner. \x0d\\x0d\2。 ABS is a structural financing method. The core of ABS is to establish a strict and effective trading structure, ensure the realization of bankrupt Greece, and separate the solvency of the asset pool from the credit capacity of the original owner. This transaction structure ensures that financing activities can fully enjoy the government's tax incentives; Finally, this transaction structure is that the original owner can rent the "credit rating of financing guarantee company" to improve the issuance conditions of asset-backed securities. \x0d\\x0d\3。 ABS is an off-balance sheet financing method. In view of the fact that the securitized assets have been transferred to SPV through real sale, the original creditors have also given up control over these assets, allowing the original creditors to remove the securitized assets from the balance sheet and confirm the profits and losses. The principle of handling ABS transactions in an off-balance-sheet manner can be confirmed in law, which constitutes another feature that distinguishes ABS from traditional financing methods. \x0d\\x0d\4。 ABS is a low-cost financing method. The total financing cost of ABS is lower than that of traditional financing methods. Firstly, ABS improved securities issuance conditions by using mature transaction structure and credit enhancement. Second, although there are many ABS expenditure items, each item accounts for a very low proportion of the total transaction amount.