| The integration of Industrial-financial capital (IIFC) is an important social economic phenomenon of modern economy, and has a major role and impact on socio-economic development. The IIFC of real estate industry is a sustainable development path that the real estate industry develops to a certain extent, and it is an inevitable trend that the grades of operating capital upgrade. This paper intends to research with the relevant theory about IIFC, engaging in systematic research on the IIFC combing China's real estate industry with the actual process and the actual situation .China's real estate industry has developed for more than 20 years, from small to large and from weak to strong, it has become a significant economy's pillar industries. In this process, the support of the financial sector play an indispensable and important role, the development of China's real estate industry is unimaginable without the financial participation and support.In recent years, along with China's rapid economic and social development, in the context of macro-control, China's real estate industry is in a new situation and new trends. The IIFC is a typical phenomenon. In response to new problems in China's current real estate development, and also to look for new development of real estate enterprises, China's real estate capital and financial capital have increasingly combined, and a lot of new issues to be studied have emerged. Compared with the development of practice, the study of this theory is very backward. This paper analyzes the theory of IIFC and Premise, forms, effects of the practice of the IIFC from what we have mentioned above, we give a number of recommendations of China's integration of IIFC.This paper is divided into seven chapters. Chapter I is Introduction, mainly introducing the meaning and Background of the IIFC, Summarizing related literature, and putting forward research objects, and the overall framework of the thesis. Chapter II analyzes the meaning, theoretical foundation and development history of IIFC. First, the paper clarifies the modern meaning of IIFC based on the analysis and renouncement of the traditional understanding of IIFC. Second, the paper clarifies the theoretical foundation of IIFC based on the classic theory and modern economics. Finally, the paper makes a more comprehensive overview of he international experience and China's practice of IIFC.Chapter III is the study of necessity of IIFC of Chinese real estate industry. First, the paper analyzes the general relationship between Chinese real estate industry and financial sector. On this basis, the paper analyzes the relationship between IIFC of real estate industry and the healthy development of real estate industry and the relationship between IIFC of real estate industry and the sustainable development of real estate enterprises.Chapter IV analyzes the conditions, forms and effect of IIFC of Chinese real estate Industry. The paper studies the necessary conditions, specific forms and concrete effects of IIFC of Chinese real estate industry based on the actual experience of Chinese real estate Industry and financial sector.Chapter V is the study of the international experience of IIFC of Chinese real estate industry. The paper analyzes the role that IIFC of Chinese real estate industry the experience of the major developed countries. The sector is divided into two parts. On the one hand, the paper studies real estate financial innovation in the western developed countries in recent years. On the other hand, the paper studies four enterprises with international influence and significance.Based on the analysis above, Chapter VII made comment the Countermeasures of the real estate industry integration in China.The Characteristics and innovation in this paper is preliminarily discussed the theme of the real estate industry integration, specifically speaking, innovation in this paper included such point:1. From the aspect of sustainable development of real estate industry and business enterprises, this paper forecast the trend of the real estate industry integration in our country. Real-estate industry integration is good for the development the real-estate and real estate finance, and will reduced market demand and the influence of changes about the real-estate financial resources, and promote the real estate industry develop healthily and stably. This paper conclude that the real-estate industry integration is an very important factor which ensure the sustainable development of real estate industry according to the analyze the importance of the real estate finance in the process of the real estate development. And from the track of the development of renowned internationally real estate enterprises, the real-estate industry integration is also the foundation of sustainable development about the real-estate enterprises2. The essay analyzed the IIFC transition form of current real estate industry in China. China's IIFC mainly develops in the form of real estate trusts. Real estate trust is a transition form of current real estate industry in China. The IIFC issues from a series of conditions.The conditions in the different sectors of the industry decide the IIFC's status of development of the industry, also generate institutional needs such as corresponding vector and intermediary organization. In China, IIFC of the real estate industry needs implementation of national policy, also to be able to effectively adjust the sound development of the real estate industry. Therefore, the main form of IIFC is real estate trust.3. The essay proposed a two-way permeation objectives model of real estate industry. To achieve IIFC, we need certain conditions. Different status of development in a certain industry decides the IIFC mode of the industry. According to the development of China's real estate industry and real estate finance, the objectives model of real estate industry should be two-way objectives model, that is to say, property enterprises can set up a wholly-owned financial institution subsidiary through shareholding to expand into finance industry, also financial institution can participate with or permeate through capital in real estate industry by various means to achieve IIFC of real estate industry in China. As a result of materials and study limit, the paper also have many deficiencies, such as: the narrate on the subject seems naive; empirical analysis is insufficient and relevant concepts and theories needs further research and more in-depth exposition expect further research on the theme in the future to appreciate an opportunity to contribute to the sound development of China's real estate industry.
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