Research On The Financing Strategies Of Real Estate Enterprises Under The Background Of Policy Constraint

Since entering the 21 st century,the economic development trend of The Chinese market has changed rapidly,and the real estate business has gradually become the pillar industry of China.The rapid development of enterprises is closely related to capital flow.Few enterprises can only rely on their own operating cash to meet daily activities,especially for real estate enterprises,large industrial scale,long period of capital occupation,large capital demand and other characteristics determine the strong demand for external financing of enterprises.Financing strategy of the real estate industry is closely related with the national regulation policy and market environment,companies need to meet different countries during the period of finance macro-control policies to both its own business development,how to seek balance under a new regulation policy,satisfy maximize their own interests,this is the common problem facing the real estate enterprises now.Based on the research results of many scholars at home and abroad,this paper analyzes and discusses the development status and financing characteristics of the real estate industry at this stage,and selects Vanke,the leading enterprise in the real estate industry,as a case study,based on MM theory,sequencing financing theory and tradeoff theory.First of all,using a combination of theory and case,analyzes the vanke group,the current capital structure,operating and financing channels,through the analysis of vanke after financing strategies choice stage before and after the business performance to evaluate vanke financing strategies,find the present policy constraint conditions on other industry enterprises and even the whole industry instructive Suggestions.The purpose is to study the optimal capital structure for the sustainable development of enterprises under the new situation of financing,provide reference for enterprises in the current new situation of single financing method and high debt repayment pressure,and play a role in realizing the long-term stable development of the industry and enhancing the value of enterprises.This paper mainly studies the industry since the second half of 2020 and China vanke’s own development situation,mainly for macroeconomic regulation and control policy for the enterprise to study the subject control upgrade,which is in view of the real estate financing "three line" and the measures of real estate loan concentration management,explore vanke in the first quarter of 2021 priority to the experience of the green party,Some suggestions are put forward to strengthen financing control in real estate industry.