China Real Estate Investment Trust Model Study

Along with continued development of our country national economy, our real estate industry has achieved great development, however, because of the special historical period, the rapid development of the national economy, accelerating urbanization process, residential commercialization's beginning, the real industry take the new construction as the main develop mode inevitably under the multiple factors'function. The current development mode decided that the real estate development needs huge amounts of capital investment, but it is difficult for China's real estate enterprises to maintain such a large-scale development relaying on its own accumulation.Meanwhile, in order to prevent excessive investment in real estate industry, and the resulting impact on the healthy development of the real estate and financial services industries, Central authorities have carried out the macro control to the real estate industry. Under a series of policy and document, the capital cost of the real estate enterprises increased rapidly, which made them to find the new financing channel except for banks. At this point, real estate investment trusts entered people's vision.Firstly, the paper sort the concepts, feature and the related financial theory about the real estate investment trusts which enables us to be more comprehensive and clear understanding. Then it conducts the real diagnosis comparative research to the domestic and foreign real estate investment trusts'development situation: Foreign research is mainly about sum up successful experience on the development of real estate investment trusts which can provide theoretical guidance. The domestic study focuses on analyzing investment product with certain characteristics and point out the development obstacle in China. Based on the above, this paper will discuss the core factors of real estate investment trusts hope to provide theoretical support to its development in our country. Under the existing legal frame, it proposes an innovative "transitional" development mode and makes some practical suggestions on a real estate investment trusts.