| The real estate industry is one of the pillar industries of the national economy, its development affects the operation of the whole national economy. The investment of real estate is high and the project development cycle is long. Apart from this, the commodity cashability and recycling of money is poor. As a result, the real estate industry is capital-intensive. Present situation of real estate industry financing in China is as follows. Firstly, financing relies too much on bank loans, leading to a single financing channel. Secondly, the volatility of national macroeconomic regulation and control policy makes fund shortage of real estate enterprise more serious. The rapid development of economic and the speed-up of urbanization produce a large amount of housing demand. Real estate industry in China develops rapidly. Therefore, the financing problem of real estate enterprise is imminent. Choose a reasonable financing way according to the development characteristics of itself is of great significance.This article adopts case study method to research the development way of financing of Vanke company from the perspective of macro policy and enterprise development.On the base of a large number of empirical and standardization research,this article reviews those relevant theories of real estate financing.At first, this paper analyzes the current situation of the development of the real estate industry of our country, and points out the problems existing in the financing channels of real estate in our country.Also,it briefly analyzes the factors of influencing financing, including macro policies, enterprise development stage. The real estate enterprise needs to choose the suitable financing way according to their own advantages.In order to more specifically analyze the real estate industry financing channels in our country and make this paper more practical, I take the example of Vanke company. This paper analyzes the stage representative financing and the effect of the financing way under the background of different stage of development and different macro policy.Research shows that real estate enterprises in financing should first pay attention to the cost of financing, forming a reasonable financing structure.According to their own development characteristics,enterprise should innovate financing way to form a diversified financing situation step by step. At the end of the paper,writer puts forward some suggestions of perfecting our country’s real estate financing channels.This research can provide a reference for real estate enterprises to solve the problem of financing,and help to realize the healthy development of financing channels of real estate in our country. |
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