The Research On Financial Risk Management Of The Real Estate Enterprise Under The Background Of Macro-control

The real estate industry is one of the most important industries in our country, whose development quality is directly related to national economic development speed. In recent years, the real estate industry development of our country makes a spurt of progress. The continuous introduction of new property and fiscal policy provides favorable policy space for further development and expansion of real estate enterprises. However, the influence of the macro-political and financial environment on real estate industry is great. it not only decides the development of the real estate, but also can destroy the whole market in one minite.For this, the new property and fiscal policy become the points of the real estate’s development.More and more companies get along with the government for the best interest.2011 is the fiercely turbulent year for the real estate market, being restricted to buy、credit limitation raising deposit reserve ratio and interest rates, a series of regulatory measures release one after another. Then, in the third quarter the property market makes the lowest point of 30 years. The stronger wait-and-see attitude of buyers let developers feel uneasy, but this time, the government still adheres to the macro-control unshakeable, determining to defend the security of the people’s livelihood. Overnight, all funds have withdrawn from the market, which crumbles the profiteering myth of the real estate market so miraculously.In view of such serious situation, coupled with the special operating mode of the real estate industry, the characteristics which the real estate development enterprises have been showing such as a high rate of liabilities to assets、large scale of investment and financing as well as long cycle of development have become a bottleneck for the further development and expansion of the real estate market. The second half of 2011, the performance of the real estate industry glides considerably, profit rate is reducing again and again, and inventory increases at a high speed. many small and medium enterprises bankrupt or are acquired, even the industry tycoon such as Ever Grande Real Estate Group Limited、Poly、China Overseas Land & Investment Ltd need to ease the financial pressure through massive layoffs or selling off the project in build. The high inventory、project in build needing working capital、high costs of manpower and building materials、large pressure on recycling investment、the difficulty of raising funds and so on, all kinds of problem come in great numbers, the real estate industry crisis is to be triggered at any moment.It is in this context that we begin to concern the real estate industry. This article undertakes discussing financial risks of the real estate enterprise, combined with the current policy of macro-control from the following respects:First of all, this paper expounds the research background、significance and the research situation of financial risk of real estate enterprises, on these basis, sum up the research content and form the overall framework structure and put forward the research method of subject as well as the innovation points of this paper; Second, analyze financial risk that real estate enterprises faced under the background of macro-economic regulation and identify、assess as well as manage through all ways,in order to form a set of financial risk management system to help some company as perfectly as possible. Third, select a real estate enterprise for empirical research. Because of taking various factors into consideration, this paper selects the third quarterly report of Poly Real Estate to analyze in hope of giving enterprises a clearer reference; Finally, this paper makes a point to the research results and points out the deficiency, at the same time, makes reasonable expectations for the research prospect in order to be good for all stakeholder.