Research On Legal Issues Of Real Estate Investment Trust Funds

Since the end of the 20th century,real estate investment trust funds(REITs)have been developing in full swing all over the world.China has introduced REITs to comply with the international trend.REITs originally originated from the basic concept of "commercial trust",which was born in Boston,Massachusetts,USA in the middle of the19 th century.In 1960,REITs were officially born in the United States.Subsequently,Japan,Singapore and other Asian countries and regions learned from the United States and gradually introduced REITs.At present,the United States is the most mature REITs country in the world,and its development experience is worthy of reference by all countries.In essence,REITs are a form of industrial investment funds and a new investment and financing tool emerging in the financial market.They can not only revitalize the stock assets in the real estate market,but also create investment channels for investors,and play a positive role in regulating the national economy.In the process of introducing REITs in China,it is found that the existing legal environment hinders the smooth development of REITs,and there are many unsolved problems.This article is based on the existing legal framework in our country,starting from the definition of REITs,on the legal characteristics of REITs,generalizes the development course,through the long existing in the supervision in the process of development of REITs in our country,heavy taxes,exit mechanism is not sound argument and analysis of three specific issues,and put forward the solution could be operated.This paper mainly includes five parts:The first chapter is the introduction of real estate investment trust fund.This chapter begins with the introduction of the research background,and then describes the research significance of this paper;Focusing on the research status of the fund,not only domestic,but also mentioned foreign;Finally,the research methods adopted in this paper are explained,and then the research content of this paper is summarized,as well as the innovation and shortcomings of this paper.The second chapter is about the legal theory of real estate investment trust fund.This chapter begins by defining what the concept of the fund is and how to understand it.Secondly,the characteristics of the fund are combed,and how the fund evolved.The third chapter is the legal issues of real estate investment trust in China.This chapter demonstrates and analyzes the three problems of the supervision of the long fund,the heavy tax burden and the unsound withdrawal mechanism in China.The fourth chapter is the countermeasures of China’s real estate investment trust fund.According to the three questions about the fund in the previous chapter,this chapter puts forward two operational countermeasures respectively.The fifth chapter is the conclusion.This chapter summarizes and generalizes the full text,and puts forward the hope for the development of this fund in China.I hope my suggestions can provide guidance for the smooth implementation of the fund in China,so that the subsequent development of the fund in China has institutional guarantee.