Research On Existing Problems And Countermeasures Of R Real Estate Securitization Financing

Since the housing commercialization reform in 1984,along with the rapid development of the real estate industry,real estate enterprises are also facing enormous challenges and tests.How to keep the development momentum of enterprises and the sound operation of funds is the operation problem faced by all real estate enterprises.In order to stabilize the real estate market and prevent the real estate bubble from overflowing,the government has introduced a series of control policies and financial restriction policies,and the living space of small and medium-sized Housing enterprises will be further reduced.In this context,small and medium-sized real estate companies represented by R Real Estate Company,in order to ensure that they can obtain stable cash flow support,have gradually shifted from bank loans and purchase-oriented accounts receivable financing to securitization financing.We try to expand the financing channels by means of securitization and reduce the financing cost of enterprises.However,due to the immaturity of China's securities market and financial system and the lack of relevant financial supervision system,the problems of securitization financing of real estate enterprises are gradually exposed.The author takes R Real Estate Company's securitization financing as an empirical analysis object,through the analysis of its financing channels,credit rating and debt-paying ability,draws the conclusion that there are some problems in the securitization financing of R Real Estate Company.From the macro and medium perspectives,this paper analyses the causes of R Real Estate Company's securitization financing problems from three main aspects: policy impact and market environment restrictions,narrow financing channels,limited credit enhancement,and deviation in the positioning of main products.Finally,the author tries to put forward some countermeasures and suggestions for the securitization financing of R real estate company.The author believes that R real estate company should adjust its product positioning to adapt to the financing market,improve its financing ability and expand financing channels.In view of the actual project-L residential area project,the author puts forward REITs financing scheme,and systematically puts forward countermeasures and suggestions.