The Research On The Financing Ways Of The Middle And Small Scale Real Estate Enterprises

In recent years, along with the rapid development of socialist market economy in our country, the real estate industry also presented the tendency of high speed development. Day by day it demonstrated its essential dual functions in the social production and the inhabitant living, gradually displayed its important guidance function as the foundation industry of national economy. In our country, the middle and small scale real estate enterprises reached above 90% of the whole real estate industry. Therefore, whether the middle and small scale real estate enterprises healthily develop, is related to the health development of the whole real estate industry.The real estate industry is the capital intensive industry. Its characteristic decided the fund is the key factor restricting the real estate enterprises growing strong. But in our country at present, financing channels provided to the real estate enterprises are very few; the financing channels provided to the middle and small scale real estate enterprises are less. This has limited the middle and small scale real estate enterprises and even the entire real estate industry fast develop in the certain degree.This article took a comparison analysis of the financing ways besides the bank loan which the domestic real estate enterprises can choose as the basis. Through the prescriptive analysis and the case study, this article explored the financing ways which are suitable for the middle and small scale real estate enterprises, and put forward the suggestion from the society and the enterprises own perspective. Main content is as follows:The first part elaborated the characteristic of real estate industry, the definition of the middle and small real estate industry, and the present situation of the middle and small real estate enterprises'financing and capital operating under the present finance system in our country. First elaborated the importance of the real estate industry in the national economy development——the pillar industry of the national economy, and the its characteristic——the capital intensive industry; Next defined the middle and small scale enterprises from the number of employee, the sales volume, the total assets and so on, to provide the theoretic basis for the further research; Once more, through the analysis of the present situation of the middle and small real estate enterprises'financing under the present finance system in our country, pointed out limitation, in order to act appropriately to the situation; Final, through the analysis of the characteristic of the middle and small scale real estate industry's capital operating, provided the basis to exploring the financing ways.The second part through the comparative analysis of financing ways such as stock financing, bond financing, real estate investment fund and real estate trust, together through the case study, analyzed whether these financing ways are suitable for the middle and small scale real estate enterprises.The third part based on the analysis of above two parts, put forward suggestion from the government, the capital market and the financial institution, and the middle and small scale real estate enterprises own, in order to expanding the financing channel of the middle and small scale real estate enterprises.