| In recent years,with the increasing degree of aging and the upgrading of the concept of pension consumption,the demand for pension services is growing rapidly,which provides a huge market opportunity for the development of pension institutions,and the pension complex emerges as the times require.However,due to the characteristics of large scale of investment and long cycle of investment recovery,the pension complex project faces the problem of financing constraints,which hinders the scale and speed of the development of the pension complex project.In view of this,this paper proposes to introduce real estate investment trust(REITs)to solve the problem of financing constraints and financial weakness faced by the elderly complex project[1].This is not only in line with the needs of the pension complex to expand financing channels,but also in line with the needs of diversified investment in the capital market.Therefore,this paper puts forward the application of REITs financing mode in the elderly care complex project through the research on the elderly care complex project and REITs,solves the problems of financing constraints and financial weakness in its development,and promotes the product innovation in the financial market of our country.Firstly,this paper introduces the market background of pension demand,the concept,characteristics of REITs and the theoretical basis of related financing in detail.Secondly,through the research and analysis of the daily operation status of H pension complex project in Shenyang,it is found that the financing constraints and financial weakness faced in the development process are universal in the whole industry.It is urgent to provide financial support for the pension complex project through financial innovation and solve the financing constraints.Then,it demonstrates the necessity and feasibility of the development and application of REITs from the perspective of the pension complex project and REITs respectively,which is also the premise and foundation of the construction of REITs financing mode in this paper.In contrast,this paper proposes to introduce REITs as an innovative financing mode to help the elderly complex project broaden the financing channels and solve the problems of financing constraints and financial weakness.Next,by learning from the successful development experience of foreign countries,combined with the current situation of China’s asset market development,the financing structure of the application of REITs in Shenyang h elderly care complex project is constructed.And put forward the economic feasibility model to meet the needs of project developers and REITs investors,and then use the scientific quantitative analysis method to test the economic feasibility of the application of REITs financing mode in Shenyang h elderly care complex project,providing case support for the research of application-oriented REITs in China.Finally,in order to promote and apply REITs in our country,this paper puts forward targeted development suggestions from two perspectives of REITs and pension complex. |