Study On Model Of The Land Reserve Trust

Land reserve investment trust is a kind of investment model operated by certain fund management companies,by which many investors' fund are collected and invested in land reserve project.Since land reserve investment trust is a new concept in China, investors still doubt it and hold a wait-and-see attitude toward it.It is necessary to do deep research on the operation model of land reserve investment trust,in order to,on the premise of reducing monitoring costs and ensuring investors' profit,let it be Operational and feasible.The present study intends to provide strong support for the development of Land reserve investment trust,thus to improve the land reserve system in China.The main research achievements of this study are as follows:(1) The concept,features and relative subjects of land reserve investment trust are proposed according to the concept of REIT and Trust.Financing advantages of land reserve investment trust and the significance for china to adopt this model are presented in this study.(2) Through creating the principal-agent mode,two kinds of land reserve investment trust organization models:contract model and company model are compared, and the more proper one is selected.(3) According to the features of the present land reserve system in China,and the advantages and disadvantages of the kinds of fund distribution:open and closed,this study gives rational suggestion on what kind of fund distribution should be adopted in China.(4) This study also discusses other aspects of land reserve investment trust mode, which include way to raise the fund,investment subject,investment mode,operational processes and income distribution;(5) The author of this study investigates the land reserve centers in Shaanxi province and collects relevant data.According to the data collected,the GM(1,1) is built to predict the fund the land reserve institute in Shaanxi province required in the few years.