The Innovation of Real Estate Financial System in China-Real Estate Investment Trusts (REITs) in China Studies
|School||East China University of Science and Technology|
|Keywords||REITS Investment and Financing Development proposals|
The emergence of Real Estate Investment Trusts (REITS) is a inevitable result of the innovation and development of the financial industry. REITs helps to spread the systematic risk of the real estate industry, reduce non-performing loans of commercial banks, enrich our investment products, open up the channels for the small and medium investors to invest in real estate and promote the healthy development of China’s real estate industry.Through the comparative study of foreign real estate investment trusts development experience and case study methods, the thesis studied a number of issues on the localization of the REITs in China. To study the issues, it also learnt from the existing researches home and abroad. Furthermore, it combined the studies of the development status of China’s real estate, investment environment, financing channels, financial laws, etc. which are related to REITs. The article first analyzed the relevant theory of REITs and explained the principles and types of trust and investment funds. It then studied and summarized experience of the operation of REITs in the developed countries such as the United States, Europe, Japan, Singapore and Hong Kong. On this basis, it introduced the current real estate financing and the market prospects of china. It also analyzed the development of China’s real estate fund in recent years and the development of the REITs. Finally, the thesis discussed the development strategy of China’s REITs from various aspects and gave some personal suggestions on the choices of how to develop REITs in China.