| Nowadays, real estate investment trusts have been becoming a new financing way for the real estate industry around the world .On the other hand, They have been an investment tool investors pursued too. As we all know, the capital market has basically formed in China, the financing instruments, especially trusts is facing reconstruction and renovation. Although the real estate financing has become systematical, its development still remains backwards. Under this background, the thesis aimed to study on development experience of overseas real estate investment trusts in order to introduce this financing instrument and visualized to apply them in China.The thesis began with explanation of study background, then it analyzed the reasons of origin and development about real estate investment trusts in brief. In the next chapter, the investment characteristics of real estate investment trusts as a kind of financing instrument have been introduced. After comparing the characteristic of the real estate investment trusts among some countries and regions, the thesis offered three available modes for China and compared these three kinds of ways to clear the mode one which can suit China nowadays well. So far, the mode of China real estate investment trusts has been established and subsequently such six respects as administration structure ,etc of china real estate investment trusts have been given a further discussion, which gave us some operational suggestion for real estate investment trusts of China. Finally the thesis ended with argument of external environment condition for China real estate investment trusts. |
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