我国保障房资金缺口问题及其解决途径

面对保障性安居工程巨额的资金需求,各地政府纷纷尝试多种保障房建设融资模式,其融资途径涵盖银行贷款、地方债、私募债、公积金甚至是企业债,保障房发展的资金困境似乎正在化解。但这又产生了新的问题：一是发债资金使用流向的监管,二是保障房债券的偿还。保障房项目利润率低,建设周期长,单纯依靠财政投入难以为保障房建设提供长期稳定的资金来源。应该发挥政府动员社会资源的能力,构建以地方政府为主体、多方参与、风险共担与风险规避的保障房投融资平台,吸引民间资本、住房公积金增值收益、银行信贷、信托、保险、社保等具有不同风险偏好的资本参与保障房建设,使建设资金来源多元化,从源头上解决融资难的问题。

Problems about Funding Gap of Affordable Housing and Its Solution

For the large fund that indemnificatory housing project needs, local governments have been trying sorts of affordable housing construction financing mode, such as bank loans, local government debt, private debt, accumulation fund, even corporate bond. Fund seems to be raising. But there are some new problem generating： one is that how to monitor the flow of the raised fund, the other is how to pay the affordable housing bond. The profits of affordable housing project is low and the affordable houses needs long time to build. It is not implemented if only the governments finance it. Therefore, the government should mobilize social resources and build a low--income housing investment and financing platform that the local government is main body, multi--participation, sharing risks and risk aversion. By this platform, fund with different risk prefer, like private capital, housing fund, bank credit, trust fund, insurance and social security, can be invested into affordable housing construction project. Only by this, fund sources will be diversified and the financing problem from the source can be solved.