【作者】 张莹；

【导师】 洪涛；

【作者基本信息】 北京工商大学 ， 产业经济学， 2009， 硕士

【摘要】 近年来,随着我国国民经济的持续快速增长、居民收入水平的不断提高以及城市化进程的加快,我国房地产业取得了快速的发展。但与此同时也出现了房地产融资主要依靠银行贷款、融资结构不合理等问题,这对我国房地产企业、金融体系以及我国宏观经济都有十分不利的影响。此外,美国次贷危机的爆发也迫使我们进一步思考如何完善我国房地产融资渠道问题。在这一背景下,本文对我国房地产融资渠道问题进行了系统而深入的分析和研究。本文研究的目的和意义在于:房地产业作为国民经济的一个重要产业,它的健康发展对促进我国经济的发展有着非常重要的作用。同时,房地产业是一个典型的资金密集型产业,资金如同企业的血液。房地产融资渠道是否畅通关系到房地产业能否持续健康的发展、关系到我国经济能否健康稳定的发展、关系到我国居民日益增长的住房需求能否得到满足。因此,对房地产融资渠道的研究具有十分重要的意义。本文以企业融资理论为基础,分析了房地产业各融资渠道的特点,并对它们的优劣势进行对比分析。在此基础上文章对我国房地产融资渠道的现状和问题进行了系统而详细的分析,借鉴当今国外房地产融资渠道的先进经验,吸取美国次贷危机的深刻教训,提出了完善我国房地产融资渠道的对策及政策建议。为了解决目前我国房地产融资主要依赖银行贷款、融资结构不合理、融资体系不健全等问题,我国房地产企业、政府部门以及金融机构都应采取相应措施。首先,房地产企业应努力提高自身的核心竞争力,提高企业融资的能力;其次,金融机构应不断完善房地产融资体系,包括完善房地产金融二级市场、推动房地产投资基金、房地产信托等房地产融资渠道的发展;最后,政府部门应完善房地产金融法律法规,加强对房地产金融风险的监控,培养房地产金融的专业人才,建立有效的房地产信用评级制度。本文的创新之处在于:文章总结了当前美国次贷危机的教训,提出了在积极拓宽房地产融资渠道的同时,应注意防控风险,实现我国房地产业、金融业以及国民经济的可持续发展。本文的不足之处在于:由于缺乏相关数据,本文只采用了定性分析的的方法,而没有对我国房地融资渠道问题进行相应的实证分析。更多还原

【Abstract】 In recent years, With the rapid growth of national economy and The continuously growth of both urban and rural residents’income and the process of urbanization, The real estate sector in our country saw the sustainable and rapid development. However, it also met some problems, such as the real estate financing were mainly financed by bank loans and the financing structure was irrational and so on. These make adverse effects to Real Estate Industry and financial industry and national economy in China. In addition, subprime loans crisis make us think about the issue of Completion of the financing channels of real estate in our country. Under this condition, this paper analyzed the issue of financing channels of real estate in China systematically.The real estate is a very important industry of the national economy, and its sustained and sound development is directly related to the steady growth of the national economy. Real estate is a typical capital-intensive industry; capital is just like the blood of the real estate enterprises. So whether real estate enterprises have good financial channels influences the sustained and sound development of real estate and the steady growth of the national economy and the satisfaction of people’s housing needs. So, it is so important to research the issue of financial channels of real estate.On the basis of financing theory, the present paper analyzed the Characteristics of every financial channel and compared their superiority and inferiority. Then the present paper analyzed the problems of real state financing channels in China and the reasons for these problems. Through summing up the experience of real estate financing channels in America and the learning some valuable lessons from subprime loans crisis, this paper mentioned some suggestions to consummate real estate financing channels in China. In order to solve the problems of irrational financing structure and the distemperedness of financing systems and high dependency on bank loans, the real state enterprises and the government organs and the financial institution should take some measures. First of all, the real estate enterprises should try to enhance the competitiveness, so that they could improve their ability of financing. Secondly, the financial institution should consummate the financing system, including developing the second market of real estate financing and real estate investment trust and other financial channels. At last, the government should consummate the laws of real estate financing and strengthen the control of real estate financial institutions and guard against financial risks and to Train real estate financial Talents and establish credit rating system in real estate.The creativity of this paper is by learning some valuable lessons from subprime loans crisis in America, pointing out the urgency of widening financial channels, meantime, we should Guard against financial risks to make the real estate industry and finance industry and national economy achieve sustainable and rapid development.The present paper also has some flaws. As lack of data, the research just adopted the qualitative analysis.更多还原