Research On Financing Of Asset Securitization Of Real Estate Enterprises In China

China's housing market has entered the stock era.The commercial real estate industry investment activities have the character of long cycle and poor liquidity,which means the contradiction between short-term capital and long-term development.The issue of capital h,as always been a concern of the real estate industry.As time goes into the end of 2016,the national policy starts to tighten the window of real estate companies to issue bonds.The demand for"capital shortage"in real estate enterprises is increasing.In many cities,large real estate companies met with new challenges,whether in the land phase of capital regulation tightening,or in the selling phase and bank loan across government restrictions limit for high-grade housing,and in the period of holding of their commercial property.All these will increase the property developer's fund pressure,and more and more developers plan and try to use asset securitization and other tools,in order to find new ways of financing from the stock of assets,especially from the mature operation of commercial real estate.The development of real estate securitization will help to solve th e capital bottleneck of China's real estate development,improve the investment subject of real estate,and improve the financing environment and market environment..And asset securitization,as an important financing method in capital market,can not only effectively reduce the financing cost,but also has obvious advantages in enhancing capital liquidity.Therefore,it is.of great significance to study and promote the asset securitization model in real estate.During the study,the writer firstly introduces the theory of asset securitization,and analyzes the present situation of asset securitization in real estate applications in our country.Then the writer introduce how asset securitization in our country was used in real estate industry by way of case analysis in this paper.In 2016 J company issued the first domestic stock exchange in accordance with international standards of commercial mortgage backed securities(CMBS)products.Thanks to the introduction of its new financing way,J enterprises can still remain stable or even higher in severe environment rights long.At present,real estate securitization in our country still is in the process of research and test.Due to the fact that the development of real estate securitization is a complicated system work with wide range and high technical requirements,the improvement of the financial markets is also increasing,but the development of the real estate industry is still not very standard,so that financial innovation in China still has a long way to go.The author finally summarizes the existing problems in the application of real estate securitization in our country,also puts forward the corresponding settlements in law,tax,the improvement of the ability of planning manager investment banks,investors and credit ratings and the development of the information disclosure level.