本文關(guān)鍵詞： 養(yǎng)老地產(chǎn) 融資模式 資產(chǎn)證券化 案例分析　出處：《上海交通大學(xué)》2013年碩士論文　論文類型：學(xué)位論文

【摘要】：本文首先分析了中國養(yǎng)老地產(chǎn)證券化的研究背景：中國人口老齡化呈現(xiàn)加速發(fā)展之勢，養(yǎng)老需求巨大，傳統(tǒng)養(yǎng)老模式逐漸力不從心，社會化養(yǎng)老模式的發(fā)展是必然途徑。隨著中國人均GDP達(dá)到5500美元以上，社會保障體系的不斷完善，老年人獨立居住的養(yǎng)老觀念被社會認(rèn)同和接受，養(yǎng)老地產(chǎn)的需求開始進(jìn)入釋放期。 其次，研究和分析了中國養(yǎng)老地產(chǎn)現(xiàn)階段的融資模式和融資渠道，剖析養(yǎng)老地產(chǎn)的融資困境。由于中國養(yǎng)老地產(chǎn)依然處于剛起步階段，缺乏可行的盈利模式，因此傳統(tǒng)的融資模式無法匹配養(yǎng)老地產(chǎn)的資金需求。 進(jìn)而，分析和借鑒美國等發(fā)達(dá)國家的養(yǎng)老地產(chǎn)融資模式，提出借鑒美國房地產(chǎn)證券化經(jīng)驗，積極推行中國養(yǎng)老地產(chǎn)證券化。在此基礎(chǔ)上，分析了中國推行養(yǎng)老地產(chǎn)證券化的必要性、可行性和制約因素。 最后，，通過理論分析和養(yǎng)老地產(chǎn)案例研究，得出以下結(jié)論：中國養(yǎng)老地產(chǎn)證券化已經(jīng)具備可行性，包括，初步具備實施房地產(chǎn)證券化的宏觀和微觀基礎(chǔ)，主要參與方都相對成熟，基本運(yùn)作流程可以在現(xiàn)有的養(yǎng)老地產(chǎn)項目中進(jìn)行操作。
[Abstract]:This paper first analyzes the research background of China's pension real estate securitization: China's aging population presents a trend of accelerated development, pension demand is huge, the traditional pension model is gradually unable to do. The development of socialized old-age support model is an inevitable way. With China's per capita GDP reaching more than US $5,500 and the continuous improvement of the social security system, the concept of the elderly living independently is recognized and accepted by the society. Pension real estate demand began to enter the release period. Secondly, the paper studies and analyzes the financing mode and channel of Chinese old-age real estate at the present stage, and analyzes the financing dilemma of the pension real estate. Because the pension real estate in China is still in its infancy, it lacks the feasible profit model. Therefore, the traditional mode of financing can not match the funding needs of pension real estate. Then, this paper analyzes and draws lessons from the old-age real estate financing model of the developed countries such as the United States, and proposes to actively promote China's pension real estate securitization by drawing lessons from the experience of American real estate securitization. This paper analyzes the necessity, feasibility and restrictive factors of implementing endowment real estate securitization in China. Finally, through theoretical analysis and case study, the following conclusions are drawn: China pension securitization has been feasible, including the preliminary implementation of real estate securitization macro and micro basis, The main participants are relatively mature, the basic operation process can be operated in the existing pension real estate projects.
【學(xué)位授予單位】：上海交通大學(xué)
【學(xué)位級別】：碩士
【學(xué)位授予年份】：2013
【分類號】：F299.23;F832.51

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