The Research On Internationalization Path Of Chinese Real Estate Enterprises

With the development of China's economy,the support of China's foreign investment policy and the improvement of the international competitiveness of enterprises,China's real estate enterprises to accelerate the pace of internationalization.However,the internationalization process of China's real estate business is complex.The enterprise is faced with increasingly competitive situation and more complex investment environment.While China's real estate enterprises to invest in overseas real estate market for a short time,in order to get a safe and effective development in the internationalization process,enterprises shall choose the path of internationalization carefully.Therefore,this paper will do the research on the choice of internationalization path of China's real estate enterprises.The research is mainly to identify critical factors influencing the choice of internationalization path of China's real estate enterprises,build the theoretical model of internationalization path choice of China's real estate enterprises,and test the theoretical model.First of all,through the literature review and case study,the paper analyzed the current situation of internationalization of China's real estate enterprises,including the scale of overseas investment,the distribution of investment area,the choice of entry mode and the characteristic of enterprises internationalization.The internationalization stages of China's.real estate enterprises were divided into the admission stage,early stage,steady development stage and globalization development stage,and most of China's international real estate enterprises are in the early stage,and a few enterprises are in the steady development stage.On this basis,the the main reason for internationalization of China's real estate enterprises in different stages was defined.Secondly,through the questionnaire survey and factor analysis,23 key influencing factors were obtained,and the key influencing factors were divided into five categories:host country macroeconomic factors,host country industry factors,relationship between home country and host country,corporate rigidity and corporate flexibility.Structural equation model was constructed to verify the factors classification,and the greater impact factors were determined according to factor weights,including the host country's gross domestic product(GDP),the host country's real estate market rate of return,corporate total assets,corporate international strategic objectives,social network and information resources integration.Then,according to the relevant theory and literature review,the theoretical framework of the international market choice of China's real estate enterprises was put forward,and the theoretical framework was verified uses the multiple case studies.Finally,through the literature review,the paper identified four types of entry model,and chooses Vanke Group as the research object.The results of the entry model selection of the Quantitative Strategic Planning were determined,and the results show that the new jo:int venture model is optimal.Based on the actual situation of Vanke's entry mode selection,the entry model selection was verified.The results of this paper are an important complement to the international research system,and provides feasible and effective decision support for the internationalization of China's real estate enterprises.