| Real estate industry is one of the pillar industries in China.In recent years,due to the decline of China’s exports and the sluggish domestic demand,the economic growth needs to rely on the investment and development of the real estate industry.As a capital-intensive industry,real estate is highly dependent on the industry characteristics of long external financing cycle and high investment,which determines the important position of capital in the process of real estate development.In recent years,due to the frequent financial turmoil in the real estate industry.China has introduced a large number of regulatory measures for real estate financing.In addition,the state’s macro-monetary policies such as raising the reserve requirement ratio and tightening monetary policy to control inflation have also increased the difficulty and cost for real estate enterprises to obtain high bank loans.Since the introduction of the "930"purchase restriction policy,real estate has been under strict control.At the beginning of 2018,the CBRC banned the trust financing channels of real estate enterprises,which had once enjoyed unlimited scenery in 2017.A series of regulatory policies have tightened domestic real estate financing channels.However,most of the studies on real estate financing in China discuss the current financing situation of real estate enterprises,and do not explicitly put forward practical and effective methods.Therefore,the study on the financing mode of successful real estate enterprises provides certain guidance for real estate enterprises to expand financing channels,optimize financing structure and reduce financing costs.China Fortune Land Development is the representative of the industrial new town module in the well-known real estate industry.Its diversified financing methods have been concerned.In recent years,in order to cope with the policy adjustment,the financing methods of China Fortune Land Development have been constantly adjusted.This paper takes the happiness of China as the research object,through the analysis of the characteristics and effects of the financing methods of China Fortune Land Development,explores the different financing ways and expected financing purposes,and tries to find out the financing mode that can promote the development and growth of China Fortune Land Development.It can be used for reference for Chinese real estate enterprises to choose financing methods to provide sufficient and stable funds for their development from the enterprise level.Through the analysis of practical cases,this paper explores the future financing path of real estate enterprises in China,and provides suggestions on new financing mode of real estate enterprises in the period of strict supervision.At the same time,through the analysis,we have a certain understanding of the current financing situation in China,the reasons for the current financing situation and the concept and characteristics of the typical financing mode.At present,China’s real estate industry gradually gets rid of the dependence on bank loans,and gradually develops diversified and innovative financing methods.Including asset securitization,interlayer financing and other ways,it is of great significance to solve the financing difficulties of real estate enterprises. |
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