Research On Trust Financing Mode Of Real Estate Companies In China

The lagging development of China’s real estate finance lead to the financing plight of real estate like the single financing channel, over-reliance on bank loans and so on. It is not coordinated with the development of the real estate industry. As a new mode of financing, trust financing is beneficial to reduce dependence on bank loans for real estate enterprises and relieve the strain on real estate enterprise financing problems. However, as the innovation and practice of real estate trust financing mode, it reveals a series of problems gradually, such as the irrational financing structure, the high financing cost, the short financing period, the lack of liquidity, the imperfect exit mechanism and so on. In view of the problems existing in the current trust financing mode, combined with the influence factors of the financing mode selection, how to put forward scientific and rational mode of real estate trust financing is one of the focus need to be addressed when we research on trust financing mode of current real estate enterprises.This thesis starts from the basic framework of real estate trust financing, discusses the present situation and influencing factors of current real estate trust financing mode in China. Then it puts forward the "mezzanine" trust financing mode for real estate enterprises, and explores its actual operation deeply with the case analysis method. This thesis provides certain reference for optimizing the real estate trust financing mode. The main contents include:(1) Analyzing the current situation and influencing factors of real estate trust financing mode. It summarizes the typical trust financing mode of real estate enterprises in China, discusses the current situation of the real estate trust financing and its main existing problems, and reveal the influence factors of real estate trust financing mode selection.(2) Discussing selection and implementation of real estate enterprises "mezzanine" trust financing mode. Combining with the problem of real estate trust financing mode in our country and the influence factors of mode selection, it puts forward the mode of "mezzanine" trust financing mode, respectively discusses the characteristics, the pattern choice motivation, paths, utilization status and development prospects.(3) Analyzing the case of real estate enterprises "mezzanine" trust financing mode. It takes JY real estate enterprise as the research object, analyzing the case from four aspects --financing structure, financing costs, financing risk and financing exit, and get enlightenments of "mezzanine" trust financing of real estate enterprises from the case.The innovation of this thesis include:(]) finding that the main factor of China’s real estate trust financing mode selection are financing structure, financing cost and financing risk, finance exit and financing environment;(2) putting forward the "mezzanine’" trust financing mode and analyzing its realization.