The Study Of The Low-rent Housing Financing Mode Base On Housing Accumulation Fund And PPP

As the core content of the housing security system in our country,the low-rent housing is the product of the transformation from planned economy to market economy. It is used in distributing the property,promoting social fairness,maintaining social stabilization by the laws,policies and administrative means.Low-rent housing construction is restrained by fund in every cities.According to the source of capital and subsidization in〈low-rent housing security measures〉,this paper conduct a full demonstration about supporting low-rent housing construction through the incremental income of housing accumulation fund and PPP mode.Based on the modern portfolio optimization theory,drawing on domestic and overseas successful experience in the social security fund investment,the paper sets up the optimum combination for housing accumulation fund based on the principle of largest income per risk unit.On the basis of the theoretical analysis and statistics about the historical return of the bank deposits,treasury bonds and investment in the Shanghai stock from 1990-2007,the optimum model the paper studied is carried out to predicate the allocation proportion of three varieties.The value at risk of investment portfolio is calculated by VaR method.This paper hope that the research can be worked deeper, more meaningful and valuable methods and ideas is put forward.Then more fund of low-rent housing rent subsidizing is supported.Because of the public welfare of low-rent housing and the operation form in actual housing allowance in the system,this article borrow overseas successful experience to large-scale public infrastructure financing programs and introduce the operable PPP model.Adequate and stable sources of funds are received in building low-cost housing by city management Low-rent housing construction will be implement to the real place.