| China started to carry out the housing reform system in 1998, which greatly stimulated the development of the real estate industry. Within a dozen of years, this industry gradually becomes the main growing point of Chinese economy. In 2009, Dubai suffered a lot from the sovereign debt crisis due to its unhealthy real estate development pattern. In the background of global financial crisis, Dubai's real estate industry developed without the support of real economy and finally the finance chain broke and the price decreased rapidly. Although Dubai's debt crisis has little influence to our country, the real estate financing problems arising from the crisis alarm us. This paper aims at the analysis of Dubai sovereign debt crisis and Chinese real estate financing. At the same time, it gives some suggestions concerning Chinese real estate financing after comparing the two countries.There are six chapters of this paper. CharterⅠclaims the background and meaning of the research, meanwhile, it summarizes the domestic and foreign studies. ChapterⅡclaims the basic conceptions of real estate financing risk and sovereign debt crisis. ChapterⅢsystematically describes Dubai sovereign debt crisis and reveals three main reasons leading to the crisis. ChapterⅣfirstly analyzes the current real estate financing situation in China, then it compares China and Dubai. Lastly, it points out three notices. (1) Prevent the hot money from entering real estate market (2) Pay more attention to the management of banks (3) Control the excessive local government debt. ChapterⅤraises some suggestions in regard to the current situation of Chinese real estate financing. From the macro perspective, we should perfect related laws and regulatory mechanisms. And from the micro perspective, we should diversify the ways of financing, train talents and enhance the competitive power of the real estate companies. The final Chapter concludes and points out the superiorities and inadequacies of the paper. |
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