On Financial Risk Analysis And Countermeasures Of Real Estate Industry In China

Since 1998, social investment fund and foreign capitals pour into real estates one after another under the support of national industrial policy, the promotion of urbanization and the strong upgrading demand of resident house. It causes the fast development of the real estate, and that the real estate has already become the pillar industry of national economy in some areas in China. The development of the real estate can not do without the finance, the finance of the real estate runs through each step of the real estate, such as development, sale etc. The sound development of the finance of the real estate is the important guarantee of stability and development of real estate. It is essential to take precautions against and control the financial risk of the real estate. It is not only requests that the development of real estate and finance of the real estate, but also the stability and development of national economy. So analysis and research on the financial risk that are cause by the fast development of the real estate is realistic and meaningful. This paper connects finance of real estate with real estate on the basis of knowing current situation of the development of the Chinese finance of real estate, carries on real example analysis to Chinese financial risk of real estate from production , consumption and financial intermediary of real estate, has drawn that under a new real estate cycle since 1998, with the situation that the fast development of economy, the constant increasing of resident's income, the quickening of the urbanization process, and the entry of the foreign capitals chased the profit, the real estate develops rapidly. But because the resident potential behavior to purchase house originally over the next several years and even decades was turned into reality in a short time, and the house supply is relatively tight slightly .It is caused by the increasing of land price and developing and constructing cost, and the illegal and monopolized market operation of real estate enterprise, such as stocking land and reducing house developing and selling. So it cause the fast rising of the price of the real estate, make existing real estate supply and demand structure broken to the new structure. At the same time, it makes the house need of the low-income household in a part suppressed. In the all, the development of real estate is not very in the risk that surmount economic stage of China; The scale of credit of the whole Chinese real estate increases progressively , though non-performing loan rate of the whole development loan of the real estate and the personal loan for purchasing house are relatively lower, but because the financial system of the real estate is the indirect financial system relying mainly on bank credit, other financing way development lags behind, the real estate cycle apt to make the real estate potential fluctuates the risk is accumulated to the system of the bank, influence the financial stability. Then this paper manage to analyze the origin cause of formation of financial risks of the real estate from land system , financial system and government, put forward the countermeasure of taking precautions against and controlling the financial risks of the real estate on this basis: On one hand China will set up and perfect the macro adjustments and controls mechanism of taking precautions against cycle and fluctuation of the real estate, it is solved from norm of the administration behaviors of the land system and local government, and forms of the meticulous macro adjustments and controls means; On another hand China must solve the credit financing structure problem that the real estate depend on the system of the bank unduly at present, besides solving the bank's own problem of management, need to develop the multi-level financial system of real estate.