毕业论文外翻译-中国房地产业融资渠道的创新研究.doc

北京联合大学毕业论文外文原文及译文 题目： 《新形势下房地产企业融资创新性分析》 专业： 金融学 指导教师： 赵凤云 外文原文 The Research on Financing Channels Innovation in Chinese Real Estate Industry According to the public information，the increasing rate in real estate investment has obviously exceeded the fixed assets investment．Because real estate investment account for over 20 percent in the aggregate fixed assets investment in China，real estate industry has driven the society investment and played more and more important role in Chinese economy． Bank loans to the industry have ascended gradually since 1998．The loan volume has been attained 6657 billion yuan in 2009，3．2 times as much as that in 1998． At the same timelpersonal house mortgage—backed loans has been increase dramatically．In last 6 years，the rate of these loans to total personal consuming loans is about 75—97 percent. Chinese Current Status of House Financing Channels Financing channels of Chinese real estate enterprises are mainly focused on Bank credit．Other channels like IPO，entrust，Bonds and special funds to obtain capital are of quite less proportion．House mortgage—backed loans came into being in 1998．Before that，the money users were real estate companies.Generally，Chinese real estate industry gives priority to creditor’s rights financing．The financing structure shows unitary characteristics． Bank Credit is Main Channel for Chinese Real Estate Enterprises According to the operating process and capital chain figure of Chinese real estate market，we could find that bank loan has been running through the whole process of land reservation，land transaction，development and sale．Commercial banks are almost the only capital providers of all principals in Chinese rea1 estate market． Real estate trust fund become Chinas relatively active financing form Our country has experienced three years of industries into again after the reorganization, 2010 rapid developm