The Creative Research On The Financing Tools Of The Business Real Estate In China

The business real estate industry,which is based on plenty of funds,has the characteristics of large-scale funds,long investing period,high risk,high profits,compared with the common and public residence project differed widely.However,the business real estate project indeed with the bank loan is the main financing tool,which has become unsuitable for the development of business real estate.As a result ,it is necessary to develop the new financing tools.In the paper, I sets out from the define business real estate concept,analying the development and operation of the business real estate.Then,l contrast the financing condition,the financing tools with qualitative and quantitive analysis;and emphasize to discuss the possdibility and necessity of developing our real eatate based on the successful experience abroads.At last,I design the C-B-REITS system based on our financial policy,governess system and tax system,which constitute with fund holder,fund manager,fund custodian bank,using the structure of closed-end investment fund.The fund source can be private placement,public placement. We set up standardize income certificate to keep it flow in secondary market,and distribute the 90% income to the holders.So,we can set up a new investment channel for people ,which can provide much more money for the business real estate industry.The system break up the unique financing tool of bank credit and provide more choices for our business real estate projects.