China Real Estate Companies Trust Finance Theory And Practice Analysis

The real estate is a basic industry of the national economy, the standing development of the real estate is significant to the steady-state growth of national economy. Meanwhile, the real estate is the intensive industry of the fund, need input of huge fund in the course of managing in land development and commodity management, need well-liking financial and capital market backing, so the financing channels of real estate enterprises are significant to the standing development of the real estate.Since reform and opening-up, enterprises of real estate of our country have developed rapidly, have formed the comparatively steady financing mode: Bank loan , stock financing , utilizing the foreign capitals ,etc. First of all, the bank loan is the main capital sources of enterprises of real estate of our country, including the loan of development of real estate and selling the mortgage loan of commodity apartment in advance, accounts for over half of capital source proportion. But this is a potential risk to commercial bank, once the turnover cycle of real estate market slows down , it may make real estate enterprises fall into the condition of economic predicament, cause a large number of bank loan to become the bad account. So country has already limited the loan of development of real estate. Secondly, stock financing is an important financing channel of the real estate enterprises of our country too, but the threshold is very high, and the procedure is very complicated, only a few enterprises can achieve the aim of stock financing. In addition, the security market of our country is at unripe stage, the risk is relatively high, the stock financing is difficult to the enterprises of real estate. Finally, real estate enterprises utilize the foreign capitals to develop cooperatively, but this kind of channel is very small in proportion now.This thesis has explained the trust financing way of the real estate, real estate trust is a kind of financing , including financial nature that things and property management. The trustee is generally the bank or non-banking financial institution, manage to obtain the service charge and agency fee in its business, its subject matter is a customer's fund , property and power of the house or the land. Real estate trust is to reflect the economic relation amongproperty client and trustee , beneficiary if the client offers the property. This thesis has cited the land trust mode of Japan, through researching and analysing to this kind of mode, combine the reality of our country, structure the state-run land trust mode and procedure of our country; and has cited the real estate investment trust mode of U.S.A. at the same time, structure the real estate investment trust mode and procedure of our country. Finally, this thesis made detailed analysis to the current situation of the development and prospect of real estate trust of our country, elicited the trust financing macroscopical environment and policy condition needed of real estate in our country.