Financing Strategy Research About Real Estate

As a basic industry of national economy, real estate industry has a high connection with other lines of business or departments and had been decided as a new growth dot in China's economy. Meanwhile, real estate industry is an identify fund-collection industry. Having enough funds is critical to the development of real estate industry.At present, the characteristics of real estate companies in China mainly include the following aspects: their business scopes are relatively small; their operation resources are separated; their social resources are utilized with poor efficiency. Recent situation of real estate industry in China does not accommodate its characteristic of capital denseness. Compared to the situation of foreign real estate industry, Chinese real estate companies have a long way to go.Recently, most real estate developers in China adopt "Rolling Development" as their operation formats. Their capital resources are mainly from bank credit. Other financing methods include financing in the stock market, fiduciary financing, bond financing and fund financing. The ratios of these financing methods are relatively small. Their financing structures are comparatively simple and are easily influenced by the macroscopic economy polices and economic environment. After the No. 121 Document of Central Bank was issued in 2003, the stringency policy of Central Bank put more than half of Chinese real estate companies in danger of capital lack, or even being washed out from competition. Conventional financing methods are not able to meet the capital requirements of recent real estate development. They turned to other new financing approaches such as stock market financing, overseas financing, enterprise bond, shares financing, and real estate trust and so on.At present, China has not established the perfect real estate financing system. How to resolve the fund difficult of developing the real estate finance and establish the multi-ways real estate financing system and financing strategy is an important issue of whole finance.This thesis stands on the point of development of whole real estate line and combines the theory of strategy management and financing strategy, from microscopic to macroscopic, which analyzes various kinds of financing way as main route, the present condition and problems of financing of Chinese real estate as well, then provides the specific measure, meantime takes Tianjin real estate industry for example, and tries to find out new financing system and financing strategy fit to our country...