| The real estate industry mushroomed during a decade, since the real estate market reformed in 1998, has gradually became an important part of national economy which is directly related to the healthy development of economic and harmony of country. The real estate industry's potential problems gradually come out while it leaps and bounds in recent years. One of the most prominent problem is the price rising too fast relative to residents of real disposable income, the other problem is the supply and demand of housing structure not matching,resulting in relative supply surplus. In short, while the real estate market bubble gradually expanded its relative supply surplus housing vacancy rate remains high.Under this background, the Chinese government has promulgated a number of macro-control policies, including monetary policy, fiscal policy, land purchase policy,credit limit policy, etc. to ensure that the real estate industry healthy and steady growth. It is exactly this background makes me to focus on real estate industry. This paper starts with the financial risks analysis of real estate companies, combining the past five years the macro-control policy. It mainly conclude the following parts: Firstly, elaborating the real estate financial risk research background, significance and research status at home and abroad, presenting paper and research methods innovation. Secondly, elaborating real estate macro-control policy of the past five years, and analyzing the financial impact as well as the transmission mechanism of different macroeconomic policies on the real estate companies. Then, combining the impact of macro-control policies on the existing financial system to improve risk assessment; establishing a non-financial indicators system based on the theory of balanced scorecard to use as a supplement to evaluate financial risk. Finally,taking Poly Real Estate as a example to do empirical research with Statements Analysis,Z-score Model, AHP and Fuzzy Comprehensive Evaluation. |
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