發(fā)布時(shí)間：2018-05-04 16:10

  本文選題：房地產(chǎn)投資信托基金 + 香港REITs�。� 參考：《外交學(xué)院》2014年碩士論文

【摘要】：在國(guó)外資本市場(chǎng)，房地產(chǎn)投資信托基金的發(fā)展已經(jīng)有了50多年的歷史，，它使得投資者可以從直接持有房地產(chǎn)轉(zhuǎn)變?yōu)橥ㄟ^(guò)有價(jià)證券間接持有房地產(chǎn)。房地產(chǎn)的價(jià)格以證券的形式反映出來(lái)，有利于提高房地產(chǎn)投資的透明度。同時(shí)房地產(chǎn)投資信托基金的發(fā)展也改變了商業(yè)物業(yè)以往的經(jīng)營(yíng)模式，從以買(mǎi)賣(mài)為主轉(zhuǎn)變?yōu)橐宰赓U為主。由此一來(lái)，不僅釋放了房地產(chǎn)企業(yè)原有的商業(yè)物業(yè)的存量，也促進(jìn)了房地產(chǎn)的專(zhuān)業(yè)化管理，提高了房地產(chǎn)的利用效率。因此，引進(jìn)房地產(chǎn)投資信托基金制度有利于撬動(dòng)民間資本，調(diào)整房地產(chǎn)融資結(jié)構(gòu)，降低金融機(jī)構(gòu)的信貸風(fēng)險(xiǎn)并拓寬投資者理財(cái)渠道，對(duì)整個(gè)國(guó)民經(jīng)濟(jì)的發(fā)展具有重要的意義。 本文通過(guò)研究房地產(chǎn)投資信托基金制度對(duì)于我國(guó)房地產(chǎn)行業(yè)及金融市場(chǎng)的重要意義，闡明房地產(chǎn)投資信托基金制度移植的必要性，并詳細(xì)分析我國(guó)香港地區(qū)房地產(chǎn)投資信托基金法律制度，結(jié)合案例考察該制度在香港地區(qū)的執(zhí)行效果。最后分析我國(guó)內(nèi)地推行房地產(chǎn)投資信托基金制度的法律障礙，并借鑒香港地區(qū)相關(guān)制度的經(jīng)驗(yàn)，為將來(lái)我國(guó)內(nèi)地房地產(chǎn)投資信托基金模式的選擇及制度設(shè)計(jì)提出建議。
[Abstract]:In foreign capital markets, the development of real estate investment trust funds has a history of more than 50 years, which enables investors to change from holding real estate directly to holding real estate indirectly through marketable securities. Real estate prices are reflected in the form of securities, conducive to improving the transparency of real estate investment. At the same time, the development of real estate investment trust funds has changed the business model of commercial property, from buying and selling to leasing. As a result, it not only releases the stock of commercial property of real estate enterprises, but also promotes the specialized management of real estate and improves the efficiency of real estate utilization. Therefore, the introduction of real estate investment trust fund system is conducive to leveraging private capital, adjusting the structure of real estate financing, reducing the credit risk of financial institutions and widening the financial channels of investors, which is of great significance to the development of the whole national economy. By studying the significance of the real estate investment trust fund system to the real estate industry and financial market, this paper expounds the necessity of transplanting the real estate investment trust fund system. The legal system of real estate investment trust fund in Hong Kong is analyzed in detail. Finally, this paper analyzes the legal obstacles to the implementation of the real estate investment trust fund system in the mainland of China, and draws lessons from the experience of the relevant systems in Hong Kong, and puts forward some suggestions for the choice and design of the real estate investment trust fund model in the mainland of China in the future.
【學(xué)位授予單位】：外交學(xué)院
【學(xué)位級(jí)別】：碩士
【學(xué)位授予年份】：2014
【分類(lèi)號(hào)】：D922.282

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4 郭s

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