China Real Estate Investment Trust (REITS) Operational Research

2018 is the fortieth anniversary of reform and opening up.During these four decades,China's real estate market has achieved leap-forward development and has gradually played an increasingly important role in the national economy.However,with the introduction of China's measures to reduce production capacity and inventory,the era of China's property market is coming.Under this background,traditional real estate financing channels have gradually narrowed,and the problem of financenal difficulties for real estate enterprises has become more prominent.Real estate securitization has become a new development direction.Real estate securitization can stimulate the vitality of the real economy.It is a necessary means to build a diversified capital market system and a necessary model for promoting the sustainable development of finance and real estate.Real Estate Investment Trusts,also known as Real Estate Investment Trusts("REITs"),is an efficient way to achieve reale state securitization.Since the launch of the first public offering of REITs in China in 2015,the scale and number of REITs have increased significantly.However,due to lack of awareness,tax management,structural design and lack of professional talents,China has not yet established a standard REITs system to issue publicly recognized REITs.Penghua Qianhai Vanke REITs is an important attempt for the development of public funded REITs in China.Since the release,the market has performed well.How to achieve good operation in the context of the lack of REITs in China;how to achieve in the framework design and specific operations A good income,the analysis of the case of Penghua Qianhai Vanke REITs will help promote the standardiation process of REITs in the real estate companies in China.This paper takes Penghua Qianhai Vanke REITs as the research object,combines the current situation of REITs in China,and starts with its framework design,market performance and valuation,summarizes its characteristics and shortcomings,and puts forward relevant suggestions for the promotion of REITs in China.Provide some reference.On this basis,we will further explore the direction and path of launching standardized REITs in China in the future,discuss the timeliness of launching public offerings of REITs,explore the model selection,product design and policies of public offering REITs,and propose the current plan for launching public offerings in China.