Empirical Study On Financial Risk Of Real Estate In China

In recent years,the real estate industry has become the most important industry of national economy,and has made important contributions to the sustained growth of Chinese economy.With the rapid development of.the real estate market and capitalmarket,thereal estate finance is developing rapidly,and the credit is expanding.Historical experience shows that the real estate industry is easy to breed a bubble,with the accumulation of real estate bubble and burst,real estate finance is facing enormous risks.Real estate prices continue to rise and the real estate credit is expanding,prevent the real estate financial risks and maintain the financial stability become the priority among priorities in Chinese economic development tasks in the future.Therefore,it is of greattheoretical and practical significance of the research of Chinese real estate financial risk and countermeasures.Base on the study of relevant literature,firstly the paperintroduces the theory of real estate finance,and makes the judgment and analysis for the financial risk of real estate in China;Secondly through the method of index system,it used the housing price income ratio,and the proportion for real estate investment and GDP index to carry on the measureto the risk of real estate bubble;and then it selects the 2003-2016 non-performing loan rate of commercial banks,real estate sales prices index,the asset-liability ratio of the real estate industry,the State Housing boom index,and makes empirical researchfor real estate credit risk by the methods of regressionmodel,the regression analysis,cointegration test.Finally,according to the conclusions of empirical research,it proposes some measures to prevent the financial risks of real estate.The measures are as follows:broadening the financing channels,reducing the asset-liability ratio to the real estate industry,strengthening the risk management of commercial banks,and constructing the Macro Prudential Financial Management System of real estate.And through these measures to achieve the purpose for guarding against the financial risks of real estate.