Research On Financing Risk Control Of TJ Real Estate Group

In the last ten years,the real estate industry has made an indelible contribution.to the economy of China.But after 2007,China's real estate market was full of twists and turns,In terms of macro policy,the real estate industry has experienced the "monetary easing stage" of 2008-2009,"The State Council's No.10 National notice's implementation stage" of 2010-2011,"Keep tight monetary policy but maintain pressure stage" of 2012-2013 and "steady consumption and de-stocking stage" of 2014-2015.Especially in 2010,the issue of a series of loan and purchase limits-measures resulted in the four consecutive years of sluggish real estate market.Although the restrictions were loosened gradually in the past two years,but the real estate industry seems no longer glorious as before.The real estate company's traditional sources of funding-bank loan was restricted gradually during this period and many real estate companies have to seek other financing methods,the financing channels have become increasingly diversified.As the estate market's profit margins being trending down and the financing activities becoming increasingly complex,financing risk control has become a very important issue to each real estate enterprise.Reviewing the national policies in the past few years,the keywords have been "curbing speculation" and "promoting the construction of social housing".So what are the characteristics of the companies' financing risk,which develop the ordinary commercial housing and affordable housing meanwhile,and how to control the risk.It is well worth studying.This paper selected a large state-owned real estate company in A municipality-TJ Real Estate Group Co.as the case.In addition to the development of the ordinary commercial housing,It shoulders the task of urban construction and great social responsibility,It also develops many affordable housing projects.This paper proceeded from relevant theories of risk management,then discussed the influence factors of the real estate financing risk.In the part of case,I studied the total financing situation of China's real estate enterprises,then analyzed the financing situation of TJ real estate group,identified the problems existing in the financing,and found out the causes of the financing risk.Finally,I put forward some suggestions for the group's financing risk control.The previous relevant literature mainly discussed the overall financing risk identification and control of the real estate industry from a macro perspective,or focused on the companies like Vanke which mainly developed commercial housing.This paper selected TJ real estate group which developed the ordinary commercial housing and affordable housing meanwhile as the case,combining with related theory,from the view of an enterprise,discussed the causes of financing risk and the risk control measures in the present situation.The research content is much more specific and detailed,and I believe this paper has a certain reference value for the same type of enterprises in the same industry.