房地产投资信托模式构建分析-金融学专业论文.docxVIP

Abstract After many years of development, REIT has been formed in the international management of a mature business mode and experience. It as a benefit and risk between stocks and bonds and their proceeds between the stock and bond yields are relatively low correlation of investment products to meet small and medium-sized investors, the lower the risk of the structure of the demand for investment products. Due to the lack of basic legal and institutional arrangements, real estate investment trust also remain in the exploratory stage only. And in mode structure, the mature from the international real estate investment trust mode (REITs) still a long way. Real estate industry in China has developed fast in the past thirty years, but much risk has also been accumulated.For example，most funds of real estate industry has come from bank loan, which leads to much dissymmetry in real estate industry among single financial market, developing speed and important status of “mainstay industry”. For the research of REITs, real cases is selected with the comparison and system analysis. As a kind of investment fund, REITs is versatile in the real estate development and investment. It can broaden investment channels and raise fund for the development project which has a long cycle and a big scale. It also can divide the real estate into small stocks and bonds which lead some funds scattered in society and investor to take in. The abroad experience is important in Developing REITs in China, so we should follow the example of the typical countries and regions, then construct the mode of trust fund according to the actual situation of China, reinforce the construction of market,finance and law environment. In this paper, we analyse the present situation and existed problems of real estate trust funds in China, find the reason and establish the construction mode of it. In the aspect of investment orientation of real estate trust, we think that the construction of public rental hous