On The Direct Financing Of Domestic Real Estate Enterprise

The central bank promulgates "The Notice About Further Trengthening The Management of Real Estate Credit Operation" namely 121 article in June, 2003. It carries on the macroeconomic control to the real estate market, enhances the threshold of direct financing according to two aspects of the property development loan and individual housing loan in real estate, and creates the domestic real estate enterprise 's capital to be anxious. Capital already became the neck bottle of the real estate enterprises, which urgently need to seek a breakthrough in direct financing.This paper aims at the current situation that the amount of direct financing in domestic real estate enterprise is small, analyses the problem in the policy and law about real estate direct financing, thus proposes the effective way and suggestion about direct financing at the present stage. Concretly speaking, this paper divides into five parts. The first part is an introduction, including the paper's background and the research significance. The second part quotes the effective data to introduce the amount of direct financing is small In real estate enterprise. The third part points out the problems of direct finacing in the real estate enterprise through the analysis of the law and policy about direct finacing. The fourth part uses the method of illustration to propose the effective way about direct financing, including buying the shell to go on the domestic stock market, going on the overseas stock market (Hong Kong), cooperation with the overseas fund, the real estate trust and so on. It not only makes the introduction to each effective way, but also proposes the concrete operation and the problems that should be paid attention. The fifth part produced the suggestions to advance direct financing in the real estate enterprise.