China REITs Operational Risk Management Study

With the rising housing prices in China in recent years,the real estate industry under the original model has become smaller and smaller,and the domestic real estate industry is increasingly calling for the launch of REITs.In addition,excessive housing prices have seriously affected China' s physical industry.Great attention has been paid to rental housing.Real estate trust funds will securitize real estate through the issuance of securities,and then draw more funds,and hand it over to a professional custody agency to manage the fund funds by hiring professionals to invest in the real estate market,which will be less liquid.Real estate investment is transformed into a process that can trade in the capital market and share investment income with investors.As a relatively new financial tool,it provides a financing for the real estate industry,effectively solves the chain problem of real estate funds,and provides great help for real estate investment to absorb small and medium-sized funds.It promotes the benign nature of China's real estate industry and capital market.development of.The focus of this paper is on the operational risk of real estate trust investment funds.This paper uses qualitative and quantitative complementation,and combines theory and evidence to analyze all aspects.It includes the basic concepts,classification and characteristics of real estate trust funds,the research and development status of domestic and foreign real estate trust funds,and the possible operational risk factors of real estate trust investment funds.The GARCH model was used to quantify the Value at Risk(VaR)of REITs.