Asset securitization is one of the most important innovations in the financial field in recent decades. The introduction of this financial instrument enables commercial banks to have both functions as "fund lenders" and "fund sellers". JD Baitiao is the product of asset securitization and is the first Internet credit consumption product in Chinese industry. Due to the huge demand in the credit market, it has been popular among users since its establishment in 2014. We will give a basic introduction to of JD and JD financial asset securitization: the development process and an introduction to the fundamentals of the whole company, including the background of the development of JD Baitiao in financial aspect, as well as the benefits of its appearance in stimulating consumption by users on JDs platform. We further provide an analysis of the JD Baitiao, including its background, transaction process, asset pool composition, and credit enhancement arrangement. issuance, pricing, to trading, also with its quota application, repayment forms, as well as its risk control system for users. Next, through data and chart analysis, we analyze the various aspects of the securitization risks. Last, based on our analysis, we recommend several ways to improve issuance efficiency and risk management capabilities.