In the past, there were three kinds of asset management plans of securities firms, namely, directed asset management plan (single customer), collective asset management plan (divided into large collection and small collection) and special asset management plan (special agreement was established, with vague definition and loose supervision scale).

Later, the new regulations were introduced, and the targeted asset management plan was still retained. The large collection in the collective asset management plan is classified as Public Offering of Fund license business, that is, the large collection can be issued after the securities company has a public offering license, and the small collection is a collective asset management plan with 2-200 investors at present. The special asset management plan is cancelled once. 20 14 after the enterprise asset securitization business was reopened, it was defined as designated SPV by the supervision and changed into a special asset support plan.

Therefore, the predecessor of the special asset support plan for securities firms is the special asset management plan, which belongs to the supervision scope of enterprise asset securitization and has only one purpose, that is, to exist as SPV.