Public Rental Housing Bond Financing Model

With the perfection of Chinese housing guarantee system,the enlargement of the low-rent house and economically affordable house's construction and the force of shantytowns'transformation year by year,the housing conditions of low-income people have been improved greatly.However,according to the small range of the housing safeguard,some cities'commercial housing price is high and go with a increasing rate.A part of the normal-income class in the city has appeared a difficult problem in housing.As a widely used housing guarantee measure in domestic and foreign,the public rental housing has an actively effect on (the apsect of) solving the difficult housing problem of"sandwich layer".At the same time to ensure the acceleration of public rental house nationwide,the innovative application of financial instruments should offer a stable and sustainable funding support to it's construction .Firstly,this paper briefly analyzes the overview of the public rental house's construction and development in home and abroad,then combines with the international financing experience of public rental house,and reanalyzes the situation that domestic public rental house financing will be facing,and finally sums up the specialties and existing problems that the domestic financial mediums have now.Then,based on treating the public rental house as a special kind of public project program,the public rental house has high level of profitability,and at the same time its characteristic that can transform the invested capital into the assets directly. Hence,the paper has a further discuss and analyzes the feasibility of broadening the financing channels by using the bond market,and all of these are under the government's surely public rental house construction,the surely operational framework of bond financing,and the effectively improving of the utilization efficiency of funds.Finally,aiming at the "break-even small profit" principle of the public rental house construction management,we are borrowing financing experience of large construction projects at home and abroad.According to the three characteristics of insurance funds--huge,long term and stable, we must explore the operation mode of insurance funds in investing in public rental house bonds,and improve public rental house construction and operating efficiency.