中国不动产证券化问题及对策--借鉴市场先进国家经验

借鉴率先进行资本自由化和不动产证券化的美国、日本等国的经验,不动产证券化的运作模式有债券模式、基金模式、股权模式、信托模式。在我国,资本市场化和不动产证券化具有重要意义。建议提高投资者对不动产证券化的参与,采取尽快培养专门人才,放宽信托财产的投资标的,明确政府职责等措施,培育和完善不动产证券化环境。

Real-estate Investment Trust Security in China and Its Solution -- Reference from advanced marketizational countries

Our country should introduce bond model,portfolio model,ownership model and trusteeship model,these operation models for real-estate investment trust security,from the U.S.,Japan such marketized countries.Capital Marketization and REITs have an important meaning for our country.To foster and improve REITs environment,the paper suggests the following measures: encouraging participation of investors to REITs,training qualified specialists,relaxing the investment objective of trust estate,and clarifying the function of government,etc.