The Study On China’s Public Rental Housing Bond Financing Model

With the continuous development of China’s economy, the rapidly growing urban population has created huge demand for housing. However, the continuous development of China’s economy, as well as the further prosperity of the real estate market led to the housing prices rise rapidly, which cause it do not match with the income of peopel under the real estate market’s supply and demand.Most of our residents, especially the low and middle-income groups, say the "sandwich class", their housing difficulties have become more and more severely. In order to solve the housing problem of this groups, we will summarize the mature experience in the construction of public rental housing in the United States, Singapore, Germany and other countries, on the basis of China’s national conditions, to explore a rapid and effective way under bond financing model, so as to obtain sustained funding for the construction of public rental housing.This article is divided into six parts:The first part is an introduction. We will firstly introduce the research background, research significance; Secondly, we will have a brief review of the research on public rental housing issue in our country and the practice of building experience in foreign countries; again, we will give the framework and research methods of this paper; Finally, we will present innovations and shortcomings of the article may exist.The second part is the theory. In our paper we study the public rental housing bond financing issue, so, it is necessary to make some related concept and theories clear at the beginning of the article. At this point, we will have an overview on financing、financing theory, so as to start the following analysis.In the third part, we will analysis the financing status of public rental housing. Base on the previous analysis of basic financing theories, we will analysis China’s public rental housing construction and financing experience, and then find out the key issue of the financing and construction experience.In the fourth part, we will analysis the feasibility of the bond financing approach in the public rental housin g financing. Base on the previous analysis of public rental housing financing problem, we will discuss what kind of financing mode can be used in our country’s public rental housing construction. Then, we will analysis and compare different countries’housing financing experience and financing mode, so as to analysis the feasibility of the bond financing approach in the public rental housing financing.At part five, on the basis of the previous analysis and combined with the public rental housing construction characteristics, we will discuss the external environment of public rental housing construction and the specific design of the model in the form of bond financing. Part VI is the article’s conclusions and policy recommendations. This article’s main conclusions and policy recommendations for public rental housing construction will be given in this part.