Study On The Development Modle Of The Union Of Real Estate Investment Trust And Commercial Real Estate In China

Real Estate Industry belongs to capital-intensive industry,the development and operation of Real Estate Industry need the strong support of Real Estate finance. As a new financing way,Real Estate Investment Trust (REITs)has already showed its forceful tendency in the development of Real Estate Industry, and closed to the Commercial Real Estate especially,our China is also trying to lead REITs in.But at present,the Commercial Real Estate of our China is at the rapid developing stage,and lacking experience has coursed the various contradictions and problems at the same time,which has blocked the sustainable development of the Commercial Real Estate.The thesis analyses the industry value chain system, and points out the core problem in the Commercial Real Estate developing is that the developer has no way to find the capital platform which can combine the commerce with Real Estate organically,so caused the industry value chain of Commercial Real Estate to break off. Observing the industry value chain of the Commercial Real Estate abroad which centering on REITs,the advantage is in the success of making the capital platform and the retailing platform to link up.The developed countries,such as USA, have been exploring for many years , and already formed the mature developing pattern that taking REITs as main financing pattern, which embodied the characteristics and advantages of REITs and the Commercial Real Estate sufficiently,and also improved the validity of the resources allocation. The thesis researches on the union of REITs and the Commercial Real Estate , demonstrates the feasibility of realizing local REITs in the Commercial Real Estate field theoretically.