中国发展房地产投资信托基金模式研究.pdf

盐塞童逦盍生亟±堂焦j金奎 △旦§I堡△￡王 ABSTRACT withcontinued ofour national real country Along development economy,oBr estate hasachieved ofthe great special industry development，however,because historical ofthenational period，therapiddevelopment urbanization commercialization’Sreal take industry process，residential beginning，the thenewconstructionasthemain mode underthe factors’ developinevitably multiple thattherealestate needs function．Thecurrent modedecided development development China’Srealestate amountsof itisdifficultfor investment,but enterprises huge capital tomaintainsucha onitsownaccumulation． large-scaledevelopmentrelaying orderto excessiveinvestmentinrealestate the Meanwhile，inprevent industry,and onthe oftherealestateandfinancialservices resultingimpact healthydevelopment carriedout macrocontroltotherealestate authoritieshave the industries，Central aseriesof and costoftherealestate industry．Underpolicydocument，thecapital increased madethemtofindthenew channel enterprises rapidly,which financing forbanks，Atthis estateinvestmenttrustsentered vision． except point，real people’S relatedfinancialabout sortthe andthe Firstly,thepaper concepts，feature theory therealestateinvestmenttrustswhichenablesUStobemore andclear comprehensive the itconductsthereal researchto domestic understanding．Then diagnosiscomparative and realestateinvestment researchis situation：Foreign foreign trusts’development aboutsum successful onthe ofrealestate mainly up expefencedevelopment focuses investmenttrustswhichcall theoretical domestic provide guidance．Thestudy and outthe on investmentwithcertmncharacteristics analyzing product point onthe willdiscussthecore obstacleinChina．Based development above，thispaper factorsofrealestateinvestmenttrusts to theoreticaltoits hopeprovide support inour the frame，it aninnovative developmentcountry．Underexistinglegal proposes modeandmakessome onarealestate ’’transitional”development practicalsuggestions investmenttrusts． KEYWORDS