| The real estate industry is a capital-intensive industry, its development cannot be without the support of a huge amount of money. But the traditional financing method is mainly on bank credit, which makes bank accumulated a lot of risk. Real estate enterprises urgently need a new financing model to raise money for their own development. "Real estate investment trusts (REITs)" is a tool that involves the real estate area and innovative financing. The development of the existing mature experience of it in the world has caught wide attention in China.Real Estate Investment trusts is abbreviated REITs. The development of Real Estate Investment trusts in China is still in its infancy, most previous research is around foreign practical experience for reference and the appropriate models of developing REITs in China. So the study of the cases is relatively needed, in this paper, after studying the theory of financial knowledge and the related concept of REITs, features, basic operation pattern, and the comparing of all the modes of REITs, this paper are trying to find the modes of our country. And then use the case of Hai Yin cooperation to proof the idea of this paper.After the case analysis, this paper concludes that we should develop explore the way of developing REITs,in the primary stage of developing REITs in our country, in the meanwhile, necessarily use the experience of other countries for reference. In addition, the deficient of laws and regulations in our country has seriously hindered the development of REITs, therefore this paper argues that Chinese relevant departments should create a good legal environment for its better implementation operation, or giving a certain policy support. In terms of the choice of commercial property, the high quality property will be wise for ensuring the stability of expected cash flow. Cultivating the real estate industry and financial industry talents is also crucial to the development of REITs. |
