英语论文网

In the current real estate development and development-oriented securities financing subject to conditionality in the case , to take private placement financing is one of the roads worth exploring . Revised " Securities Law" and " Law " has been set aside for the real estate finance and innovative space , private trust fund can be used for project development or real estate investment property acquisitions that , while private offering of shares in a certain extent, solve the real estate developers and its shareholders to raise problems. Because of our private equity funds currently no legal norms, but also the lack of criteria for the classification of qualified investors , tend to make some of the lack of risk identification capability and endurance to participate in collective trust scheme , hold a larger market risk. Because private real estate investment trusts raised base price and liquidity of fund shares are not high , there are also private placement offering a limited range , mobility is not high , and thus the two financing methods have greater limitations.

典当行可以使用其方便，高效的业务特点，积极参与中小企业融资贷款。由于中国的监管部门对抵押贷款和其他房地产项目典当禁令，住房已成为当今最大的典当业务的主题。在这个过程中，少量的短期融资，典当融资起到了作用在于它的灵活性，但相对于巨大的房地产企业的融资需求，典当金额太小，融资成本较高。

Pawn shops can use their convenient, efficient business characteristics , actively involved in SME financing loans. As China's regulatory authorities on the mortgage and other real estate projects pawn ban , housing is becoming the subject of today's biggest pawn business. Small amounts of short-term financing in the process, pawn financing played a role in its flexibility , but relative to huge financing needs of the real estate business , the pawn amounts are too small , and higher financing costs .

土地实现完全市场导向的公共供给，土地供应将减少，增加获得土地开发的成本。面对银行收紧货币供应的压力，必须有大量的土地沉降和土地出让金在短期内支付为前提，开发其自身雄厚的资金实力，手中的土地必须有强大的财务或营运能力，但没有进一步的开发能力的开发商和有资金已经很难获得土地的开发商的合作，已成为一个独特的合作开发融资。

Land to achieve full market-oriented public supply , the land supply would decrease , increase the cost of obtaining land developers . Facing banks tightened money supply pressure must be huge amounts of land settlement and land transfer payments paid in the short term as a precondition , the developer must have a strong financial or operational capability of its own strong financial strength , the hands of the land , but no further development capacity developers and have the funds it has been difficult to get the cooperation of the developer of the land , has become a unique cooperative development financing.

Currently, foreign real estate funds into the domestic capital markets generally have the following two ways - first, the Chinese government special approval for real estate projects in operation or buy bad assets ; investment management company to be established to circumvent legal restrictions by means of the operation back to buyers , buy , lease and other direct or indirect means to achieve the legitimate flow of funds and recycling . China real estate high returns attracted many overseas real estate funds rushed landing in China , acquired a number of big shopping malls, office buildings downtown area of major cities , or equity investments in real estate construction projects , some independent develo