房地产信托(REITS)对我国商业地产融资的影响-金融学专业论文.docxVIP

摘要 近年来，随着国内经济与商业地产市场的快速发展，商业地产的融资需求逐 步增加，但是我国政府严格控制银行贷款流入房地产市场，如何解决商业地产融 资问题成为大家关注的焦点。从国外经验看，房地产信托基金（REITS）可以有 效解决商业地产融资问题。本文从 REITS 的类型入手，对各个类型 REITS 进行 对比分析；后又分析了 REITS 最为发达的美国的，与我国临近的新加坡与香港 REITS 发展经验；通过对我国商业地产现状及融资模式进行分析，笔者认为 REITS 有助于我国商业地产融资，我国政府应该从法律法规、税收制度以及市场 环境等方面入手，支持 REITS 在我国的发展。 本文共分为五个部分，第一部分介绍了论文研究背景以及国内外研究基础； 第二部分介绍了 REITS 的分类；第三部分分析了美国、新加坡和香港的 REITS 发展经验；第四部分分析了我国商业地产发展及融资现状；第五部分提出了相应 的政策建议。 关键词：房地产投资信托基金 商业地产 融资 二级市场 Abstract As the rapid growth of China’s economy and the market of commercial real estate, the financing demand of commercial real estate developing keeps increasing. In the circumstance of commercial bank’s credit scale being tighten up, “How to solve the difficulty of commercial real estate financing” becomes the focus of real estate market, for which REITs as an effective method based on the successful experience of some foreign countries. This article introduces REITs’ definition, classification and application in some mature real estate markets. The author recognizes REITs as an effective way for commercial real estate financing by means of analyzing China’s current commercial real estate market, and suggests the government formulates corresponding laws and tax polices to boost the development of REITs’ application in China. This article is constituted by five parts. The first part is the introduction of the background. The second part is the introduction of REITs’s definition and classification. The third part is the analysis of the application of REITs in US, Singapore and Hong Kong markets. The forth part is the elaboration of the development of China’s commercial real estate market, which contains the development history, typical developers’ strategies and current problems exposed. The final part is the conclusion and suggestions based on the preceding analysis. Keyword: REITs, commercial real estate, financing, secondary market 目录 第 1 章 引言.......................................................................................