| In recent years, along with the constant development of the market economy, China’s commodity house market has experienced great changes. Act as an important industry, it has made the contribution for the development of our national economy. But at the same time, China’s real estate price in the process of marketization has experienced serious rise. The low-income people’s basic life was affected. The current housing problem has become a hot topic, especially low income housing difficulties was concern of the whole society. In order to ensure the basic life of the low-income people, maintain the social stability, our country make effort to establish and improve the system of affordable housing, of which low-rent housing for its strong welfare, played a prominent role. China has improved the policy and planning for low-rent housing construction and has got some achievements, but the scope of protection was small, the shortage of the construction capital was still outstanding. As our twelve five year plan, our country affordable housing construction entered a new stage, especially the2011clear requirements ensure room construction starts a level of10million. But in the concrete implementation process, especially the construction of low-rent housing financing problems was serious.As a low-rent housing to the low-income people provide rent cheap affordable housing, has some of the non-competitive and non-exclusive prospective public characteristic. Low-rent housing project operation period was long, low income, market mechanisms in the field was fail, government intervention was required. But China is still in the primary stage of socialism, the existing financial channel can not meet the financial needs for the construction projects. So the construction of low-rent housing development financing channels, introduction of innovative financing mode, so as to solve the construction of low-rent housing huge funding gap become the hot spot of the academic circles.Papers choose the construction of low-rent housing financing problems as a research object, the low-rent housing financing channels as the research content, and combed the various financing channel operation mechanism, the current problems, practical experience as well as the realization conditions, etc. In the analysis of the low-rent housing finance channel, points out the defects of fiscal fund, and put forward the insist on government money as the leading factor, to lead the market funds actively participate in the construction of low-rent housing financing improving direction. In analysis of the bank credit capital channel, this paper introduces the financing mechanism of the bank credit funds, from the practice experience points out the conditions to realize financing with bank credit. In issuing bonds financing mode analysis, this paper introduces the enterprise bond issue operation mechanism, and points out the advantage and the current constraints with bonds financing in construction of low-rent housing, discusses the supporting conditions,for example simplify issuance procedures and improve the rating system. In the REITs and PPP financing model analysis, focusing on the mode of operation mechanism, and put forward according to the practical experience of the clear preferential taxation policy and to establish risk-sharing mechanism of the related conditions. According to the comparison of several kinds of financing path evaluation, pointed out that our country should take to finance capital with PPP mode and bank credit financing for realistic choice. The issue bonds and REITs financing mode is the future direction of the financing path in the construction of low-rent housing. For support the implementation of the strategy, paper finally make the policy suggestions in necessary condition, route choice and dynamic adjustment of the path choice. Therefore, the study has a strong theoretical and practical significance. |
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