Research On The Risk Prevention Of Real Estate Trust From The Perspective Of Marx's Credit Theory

With the rapid development of economy and the acceleration of urbanization after the reform and opening up, the Chinese real estate industry has gone through three important stages of development including the reform of housing monetarization, the housing market overall promotion and construction of housing security. With the rapid development of real estate, financing channels have gradually diversified. Since 2002, Since 2002 the first real estate trust project was established, the real estate trust project has reached more than 6600, the financing scale reached 1.8 trillion,while, at the same time payment risk is increasingly dominant become one of important contents of financial risk in our country is badly in need of prevention.In this paper, the real estate trust risk prevention as theresearch subject,demonstrates the trusts of real estate in our country is in a period of development withthe scale rapid increase, incomplete regulatory policy, industry volatility and lack of risk control, it is believed that this period has obvious policy risk, market risk and credit risk. On the basis of Marx's credit theory and fictitious capital theory, analysis of real estate credit risk, and through two failed real estate trust projects supporting the dangers of the risks of real estate trust, further reveals the development of China's real estate trust that exist in the current excessive government intervention in the market is not rational, speculative private capital, lack of credit and other sources of risk.According to the sources of risk, this paper points out the real estate trust risk preventive measures: from the perspective of the government should issue and improve the laws and regulationsas soon as possible, maintain the continuity of policies; from the perspective of risk prevention should adjust the regulatory strategy, participation by enterprises to speed up the construction of the credit investigation platform; from the perspective of economic regulation and control should be through the real estate market prices eliminate the real estate bubble and guide the private capital to invest in new industries and revitalize the economic entity; from the perspective of the enterprise should provide more accurate information disclosure, establishing more professional personnel echelon, improving the liquidity of trust products through securitization and establish trust insurance to share the risk prevention.