我国发展房地产投资信托基金对策研究

Research on Countermeasures for the Development of China's REITs

本文认为,我国发展房地产投资信托基金,一要建立完善的法律体系和符合我国房地产投资信托基金发展需要的税收体系,改造和完善现行信托计划法规,培育和发展证券市场,改革现行基金管理制度;二要建立严密的内部组织机构,严格的信息披露制度和监管体系;三要培养机构投资者,拓宽资金来源,积极引导居民个人资金、企业资金、保险基金、社保资金、境外资金等投向房地产投资信托基金,并加快培养大量的机构投资者;四要建立完善的风险防范措施;五要建设适合房地产投资信托基金的成熟稳定的市场。

Real Estate Investment Trusts is group investment program based on the Trusts, which typically invest in those projects about the Real Estate. Since China hasn＇t formulated relative laws, there are no real REITs in Chinese Real Estate, s Market. According to the new Corporation Law and Securities Law, the author analyzes the risks and practicability in developing China,s REITs in current phase, and proposes a set of relative , such as the countermeasures of establishing a perfect legislation system, establishing a rigorous internal orgnizaiton, information disclosure system and supervision system, cultivation more institutional investors, positively introducing more capital to invest in REITs from different kinds of sources, adopting measures to prevent risk, and building a mature and stable market.