The Research Of Real Estate Investment Trusts Development In China

Presently, the existence of various facts(e.g., more and more limitations set by banks to get a loan, it is still difficult to gain capital through IPO, lack of real estate financial instruments,etc.)has become obstacles for China's real estate companies to gain opportunities for further development. Lots of researchers explore actively the way how to solve this problem. The author thinks perfecting China's real estate financial system will make real estate industry keep the sustainable, health and stable development. This thesis discusses about how to forming an effective Real Estate Investment Trusts (REIT) operation model on the basis of the analysis of real estate industry of China.But as far as the domestic research of REIT, everything just begins and most researchers just stay in the stage of introducing the forien experience and didn't suggest enough advice for the practice of REIT in the developing country as China.Therefore, aimed at this question just refered, this thesis emphasizes on two sides: First, the paper talks about REIT's necessity and feasibility according to the analysis of the macroscopic development strategy of the real estate industry and capital market of China. Second, it explores to set up an integrated theoretical framework for the application of REIT method in domestic market-operation.This thesis is mainly composed of five parts. Chapter l, elaborates the sense and general situation of the study and then explains relevant concepts of REIT. Chapter 2 and Chapter 3, systemically analyses REIT's history, policy, management and financial analysis etc. Based on the analysis of real estate industry and real estate finance of China, Chapter 4, proves REIT will play an indispensable part in pulling the whole economy. Chapter 5,sets up a doable REIT model according to the economic circumstances of China. At last chapter, puts forward a series of REIT operating plan. The researches in this dissertation are significant to the development of REIT, and can be used in later research and in practice.??...