The Choice Of Finaneing Ways About The Small And Medium-sized Real Estate Enterprises Under The Financial Reform

In July 5,2013,the State Council promulgated the "guiding opinions on financial support for economic restructuring and upgrading",also known as the financial "THE TEN COUNTRIES".It involves much policy about financial reform.The pace of financial reform is accelerating in order to free economic transformation,which have an effect on the financing of the real estate industry,especially small and medium-sized real estate enterprises.Our country promulgated A series of policies about financial reform to promote the interest rate marketization in China.The supervision of loan interest rates has been cancelled,which marked China's real estate industry is going to be de-administration.In the past,the real estate regulation in China is controlled by the administrative,the government Intervenes the operation of the market with administrative means and controls the real estate enterprises's financing from the financial institution's loans.which reduce the financing ability of China's small and medium-sized real estate enterprises.Under the financial reform,China's small and medium-sized real estate enterprises will face the new opportunities and challenges in financing.To the small and medium-sized real estate industry,the overall financing environment will be greatly improved,but there are also some experts believe that,under the background of the financial reform,the polarization of the small and medium-sized real estate enterprises will be aggravated.Some small and medium-sized enterprises can't benefit from the financial reform.While those relatively good,high profitability real estate enterprises can broaden the financing channels with the financial reform,their financing ability can be strengthened.It will be more and more difficulty to financing from the financial institutions for those enterprises of poor management,which causes these small and medium-sized enterprises' cost to increase and finally to be eliminated by the market,while those enterprises that do well get further development.Therefore,to the small and medium-sized real estate enterprises,the financial reform is not only the development opportunities,but also the challenge.Financial reform aims to improve the market allocation of resources,the competition among the small and medium-sized real estate enterprises are more and more fierce.Under new situation,the small and medium-sized real estate should enhance their own strength,improve the utilization of the funds,broaden the financing channels.So this paper analyzes the financing situation of China's small and medium-sized real estate enterprises and alternative financing mode based on the background of financial reform.This paper also take existing project financing mode of YDKG for example,evaluates and gives recommendations.