Research On The Development Of Real Estate Securitization In China

Real estate industry has already become our country's pillow industry. But the problem of financing has always been a great puzzle to the real estate enterprises. Real Estate Securitization (RES), as an important derivation of financial tool, has great potentiality in international capital market. In order to settle the problem of financing and disperse risks, find an effective way to promote the development of real estate industry, the paper mainly discusses the following questions:First, it gives a definition to Real Estate Securitization, makes contrasts between the definitions which we tend to mix up, and then expounds its origin, types, characteristics and functions.Second, the paper researches the process of RES, analyzes the behaviors of different subjects. And on the basis of it, discusses the microcosmic and macroscopic effects brought by RES,Third, in the view of Institutional Change, the paper studies the development of RES.At last, the paper discusses the necessities feasibilities and difficulties of pushing on RES in China. Posing the developing model of RES and putting forward some feasible advices on how to develop RES in our country.