The Applied Research About Operational Model Of Real Estate Investment Trusts

The trust, regarded as one of four finantial cornerstones(trust business,banking,securities industry,insurance industry),is characterized by the flexibility, safety, legality, effective regulation,steady benefits, and in other way of equity financing and loans. It is welcomed at real estate agency since it has certain advantage in contrast with financial institutions. It becomes a new light spot in financing of real estate. Due to it's slow development of the real estat industry and trust business in china, compared with developed country and so on USA, this has lagged behind in development for theoretical research of trust in real estate, it has not formed itself into a complete system, a lot of gap in research has existed between them, and accordingly delayed the development of them in china.According to the developed experience of the real estate investment trust in USA and Japan,it's introduced that there are three modes about the domestic development of real estate investment trust: real estate agency, enclosed funds and trust scheme. By way of oriented analysis and realistic financial system, it's the idea that the trust scheme is considered the structure of conformance of the product to the REITs requirement. But the adoption of this kind of model requires to break through the limitation of a certain legal system, I bring forward some corresponding suggestions: creating essential legal environment, accelerating the training of a large number of institutional investors, completing the talents development.Along with its deepening prehension of trust business, it has gradually improved this external envirnments including the system faced by trust business, and will achieve successes in financial areas of real estate. The trust investment fund in real estate will become the influential financing channel.