Research On Investment Risk Of Manufacturing Enterprise’s City-Industry Integration Projects

Based on the research of City-Industry integration,this paper analyzes the important models and representative projects of City-Industry integration,it also analyzes the advantages and disadvantages of manufacturing enterprises participating in City-Industry integration with the research of China’s City-Industry integration status and main characteristics.Then it researched and compared the current widely used risk management methods and common risk management methods in real estate industry.It concludes that the analytic hierarchy process(AHP)has a good applicability in analyzing the risk of investment of City-Industry integration projects.By identifying and analyzing the risk factors of investment of manufacturingenterprises participating in City-Industry integration projects,the risk factors can be defined as five categories:policy risk,economic risk,social risk,industrial risk and construction&operation risk.Meanwhile this paper refines the subdivision under each risk factors and built the foundation of risk factors evaluation index system in the investment decision-making stage.Then this paper expounds the risk assessment method based on AHP theory,and explains the relevant steps and matters needing attention in detail.In order to verify the accuracy and operability of the model,the paper examines a typical case,by the questionnaires,the author collected a certain amount of questionnaire data from the project management team,the real estate industry excellent managers,and the excellent managers of the City-Industry integration projects.The questionnaire compared risk factors by level and category with the methodology of AHP,and obtained the data matrix of risk evaluation.In order to improve the comparability of data and the reference value for decision-making,the paper conducted consistency test,the classification weighted average and the integrated weight calculation of the data of the three types of participants.Finally,it obtained the risk weight data and comprehensive risk weighting data,the importance of each risk factors are obtained through horizontal and vertical comparisons.It is concluded that the test is operable and accurate,and can effectively identify the importance of risk factors,and play a guiding role in investment decision-making.