房地产企业海外融资

【作者】 赵科峰；

【导师】 孙翠兰；

【作者基本信息】 首都经济贸易大学 ， 区域经济学， 2005， 硕士

【摘要】 近两年,国内融资环境发生变化,银行信贷政策收紧和融资工具短缺,使长期依赖银行贷款的房地产企业面临很大的资金压力。一方面,国内企业不断探索非银行外的融资渠道,融通海外资金成为一种选择;另一方面,国际股票市场持续低迷,促使不断寻找新的投资领域的国际投资者开始涉足国内,“试水”具有“暴力孤岛”之称的房地产业。根据入世承诺,2006年房地产业将全面对外开放,外资如果大量进入必然会给我国尚不成熟的房地产业和金融业带来一定的风险。因此,如何在防范风险的前提下,有效利用海外资本,解决国内企业发展资金不足的问题成为摆在我们面前的一个重要课题。 本文旨在运用海外融资和企业融资相关理论工具分析我国房地产企业海外融资的制约性因素,并在理论分析和经验借鉴的基础上,归纳出适合我国房地产企业海外融资可借鉴的国际经验,并在合理、有效利用和适度风险控制的原则下,提出从深化金融体制改革着手,培育我国房地产市场;在促进金融机构国际化和房地产企业走向国际化的同时,加快专业化人才的培养。为发展我国房地产企业海外融资创造好的条件。另一方面,在企业融资过程中、房地产市场和资本市场也要注意风险防范。 由于目前国内对于房地产企业海外融资虽有论述较多,但多为解决企业短期资金压力为目的。本人在总结众家之言的基础上,除研究解决企业短期资金压力外,从长远角度提出海外融资合理、适度利用和防范风险的观点。更多还原

【Abstract】 Approximately two years, the changes of domestic financing environment put lot of pressure into Real Estate company. On the one hand, the enterprises seek other financial channel except for the bank. Offshore financing become a good choice owing to shortage of financial tools. On the other hand, investors abroad begin to look after the profitable investing field for the depression of globel security market. They do favour in the Real Estate industry in China to make high profit. Moreover, according to the promise when we enter the WTO makes, the Real Estate industry will full open to the world. Therefore, we have to face the important fact how to use the offshore capital in the principle of safety and efficiency.The aim of the theory is to analyse the conditional factor in Real Estate company financing seaside by the theory about seaside financing and company financing, then on the base of analysis, summing up the international experiences in Real Estate seaside financing. So we should make innovation of the financial system and set up the Real Estate finance market, under the principle of efficiency and constraining risk moderately. Try our best to make the financial institution and Real Estate company and train the person specialization, the company financing offshore will be in the good term.The discussion about Real Estate company financing seaside have be hot, but more focus on resolving the shortage of capital. The author sums up the experience and put forward the viewpoint that we not only settle the shortage of capital in short term but financing offshore moderately and controlling the risk.更多还原