Real Estate Investment Trust Research

In the last century after the1990s, China’s economy has been rapid development, especially real estate and securities industry. Began in the late1990s, real estate from the planned economy, the distribution system trajectory, toward market-oriented development of the industry also rose significantly from the stable development, but also under the influence of the country’s continuing market regulation policy unwavering more and more nervous the capital chain of the class of housing prices, April2012, in the room rate of more than40,000face significant funding gap, some small Housing prices have been, or on the verge of bankruptcy, how to solve the funding problems of housing prices, so that they have a wider financing channels in addition to commercial banks, is a very important issue.Careful study of securities products in China, it is easy to see that the transaction is very uneven, and its impact has become increasingly evident. Investment products in circulation in the market transactions, nearly80%of the equity categories of products, high investment risk; rather than20%of the investment product is the product of the creditor class, relatively low investment risk, so the structure of said, If you choose to invest more than80percent facing a high risk, the risk tolerance of investors is helpless, which is not conducive to the normal operation of the securities market, study abroad experience to meet the various categories investor demand, the market looking forward to more low-risk investment products, securities market must be addressed.This paper first introduces the background and in-depth to explore the significance of this thesis legislation questions, comprehensive description of the development of global REITs; analysis of the environmental impact of the China Housing prices faced by policy and the actual financing in the plight of situation on the market real estate investment trust product development as well as the problems. Refer to REITs in the United States, Asia, Hong Kong, research and compare their experience in development, legal, operation, environmental conditions are ripe to talk about China’s development of REITs, but also how to choose the right path and do what measures can promote the development of REITs.