Capital Chain Fault Of The Real Estate Market In China And Its Countermeasures

Capital has been regarded as the blood of the real estate market, and it belongs to the capital concentrated industry. The capital flows smoothly, which decides the development and the beings of the real estate market. However, the high price of housing, the great population, the strict policy and the trend towards inhibition of expansion, which have forced the real estate market into the flat volume even back down. The enterprise will run into crisis or bankruptcy when sales meet with obstacles and then capital chain is at the verge of stagnation. At present, the domestic and foreign research about the fund chain in real estate is mainly divided into two parts:one part includes the theory of financing ways and the other part involves empirical method and predicting. The empirical method is related to several financial warning models like SDA, MDA, Logistic Regression and Neural Network. According to the actual conditions of China, the paper adopts the most general MDA——Z-Score Model to do empirical research and analysis of the capital chain in the current real estate. The empirical results show that the theoretical results effectively explain the reality. This paper introduces the financing modes of the United State, Britain, Singapore, Germany and Hong Kong and their application effect. We should sort our own financing ways in real estate through learning from foreign developed countries. Researching capital chain contributes significantly and practically to the development of the enterprises and the prosperity of the capital market.