Research Of The Legal System For Reits

With the rapid economic development in China, the real estate industry experiences a fast-developed process. However, as the fund resource of most real estate companies excessively depends on bank loans, Chinese government enlarges the control measure to real estate industry and financing instrument has unitary variety and other items and problems,the real estate rolled up a large finacial risk. How to enlarge the real estate finance channel and to realize the real estate develop capital source disparated become an important topic of industry. The real estate investment trusts is a good choice ,which is worthy for us to pay attention to. Its distribution and operation are already relatively mature in USA. In recent years ,it has been introduced to Asian regions and especially got great achievement in Hongkong and Taiwan. The research on REITs has great significance on the research of Chinese real estate industry.This thesis is divided into seven parts. The first part for foreword,leads into the core subject,followed by the introduction of present research condition of oversea's REITs; In the second chapter, the basic theories of REITs are introduced from different perspectives, such as the defination, function, advantages, comparing with the similar system and legal approach. The third part introduced the market environment and relevance legislations of REITs with a macroscopic view; Compared with Chapter 3, the fourth part analysed the setting up, operating and terminating of REITs from a micro level; based on the Chinese situation,the writer addressed the developing process of REITs in China, and concluded the problems confronted in Chapter 5. New approach with significant operation function is proposed in Chapter6, meanwhile, suggestions and advices on the contruction of legal environment are offered. In the last part, the author drew a conclusion. Through briefly introducing the inactive position of the REITs, the author suggested that the development of the C-REITs should be gradually, active and solid.