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从理论上讲，最好的办法就是公开交易，因为直接融资化解金融风险，降低融资成本，改善企业的资本结构。然而，房地产企业上市是非常困难的，因为它不同于普通的工业企业盈利，资金流是不连续的，周期性的，在伟大的条件，这是很难达到市场的要求，如建立至少3年，最近3年盈利，发行人的业务和管理近三年相同，所以可比性。房地产上市公司的融资渠道，是梦，但在1994年的宏观背景下，中国证券监督管理委员会决定不接受申请上市的房地产开发企业，直到2001年初解禁。在中国，大多数的房地产业务是通过壳，重组市场。

In theory, the best way is publicly traded , because the direct financing from defuse financial risks , reduce financing costs, improve corporate capital structure. However , the real estate enterprises listed is very difficult, because it 's profitable Unlike ordinary industrial enterprises , capital flow is not continuous, cyclical 's in great condition , it is difficult to reach market requirements, such as the establishment of at least 3 years , have recently 3-year comparability of earnings, management of the issuer's business and nearly three years with the same and so on. Listed real estate companies was the dream of a financing channels , but in the 1994 macro backdrop, China Securities Regulatory Commission decided not to accept the application for the listing real estate development companies , until the beginning of 2001 the ban was lifted . In China, most of the real estate business is through the shell , recombination market. The listing of real estate enterprises can quickly raise huge amounts of money , and the money can be raised through permanent use as registered capital , no fixed terms of repayment , so for some of the larger development projects, especially commercial real estate development has great advantage. Some eager to expand the scale and development potential of the funds and medium-sized enterprises can also consider buying ( borrowing ) to finance housing market .

房地产债券是公司债券的一个组成部分。中国的房地产企业发行企业债券，是罕见的。房地产债券最早出现在1992年，由于后来接二连三的企业债券到期无法偿还的情况下，中国的债券市场从低潮。国家也采取了严格的措施，严格限制房地产企业发行债券，在1993年到1998年上半年，房地产公司没有公开发行房地产债券。近年来，发行公司债券也是为数不多的房地产，债务融资条件的企业要求更高的中小企业融资企业是难以涉足房地产的。

Real estate bonds are corporate bonds is an integral part . Chinese real estate enterprises to issue corporate bonds are rare. Real Estate Notes first appeared in 1992 , due later spate of corporate bond maturity can not repay the event , China's bond market from a low ebb . Countries have also adopted stringent measures to strictly limit the real estate enterprises to issue bonds in 1993 to the first half of 1998 , real estate companies do not have public offering real estate bonds. In recent years , the issue of corporate bonds is also one of the few real estate , debt financing conditions for enterprises require a higher financing small and medium enterprises is difficult to get involved in real estate . With China's corporate bond market operation mechanism is imperfect and corporate bonds itself some flaws , the domestic real estate enterprises tend not to use such kind of financing. 2004 accompanied by the "State Council on promoting the capital market reform and stable development of a number of opinions" , the state 's attitude to debt financing will be substantial change , so the real estate development enterprises in bond financing space will increase.

The real estate industry in the modern social and economic life has a pivotal position , is the pillar industry of the national economy . Real estate has a strong industrial relevance , real estate development can effectively pulling iron and steel, cement , building materials , construction and other related industries , real estate development directly a本论文由英语论文网提供整理，提供论文代写，英语论文代写，代写论文，代写英语论文，代写留学生论文，代写英文论文，留学生论文代写相关核心关键词搜索。