| Since the central government abolished welfare housing policy and changed it to residential housing monetization allocation in 1998, after the development of nearly 16 years, the real estate industry has become one of the most important pillar industries of the national economy. The development of real estate industry can bring the development of more than 100 related upstream and downstream industries, including building materials, construction, metallurgy, information technology and service industries. It made an indelible contribution to it that China’s nominal GDP has surpassed Japan and become the world’s second largest economy and to achieve "China Dream". The real estate industry can increase government revenue, promote the optimization of industrial structure, improve the level of urbanization, expand employment, improve people’s living conditions.Real estate industry belongs to the capital-intensive industry, and every real estate projects have a lot of demand for funds and has a long capital flow cycle, which makes the capital chain problems become particularly important. China issued a series of real estate regulations and greatly limits the enterprise capital source. With abundant reserves, wide financing channels and relatively small market risks, it may not have a big impact in the short term to large enterprises. But the small and medium-sized enterprises have narrow financing channels and mainly rely on bank loans to support. To them, the source of the cash flow is cut off, and the capital chain rupture risk is increasingly enlarged.This paper studies the quality of cash flow of the small and medium real estate business, which has a positive and practical significance for the practical problems. This paper analyzes the cash flow quality, pays close attention to the cash flow situation, and Is conducive to makes the small and medium-sized enterprises enhance market risk awareness, reduce financing costs and financial risks. |
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