政府不动产证券化研究——以香港领汇基金为例

Research on the Securitization of Government Real Estate--Hong Kong Link REIT as an Example

中国改革开放的过程,也是政府资产的市场化改革过程。尽管政府资产的市场化运作形式丰富,但都须遵循国民福利最大化原则,政府不动产证券化正是这一原理的应用。不动产证券化项目的上市在香港取得了巨大成功,为我国进行政府不动产资产证券化提供了珍贵的借鉴。本文以香港领汇基金上市为例,分析不动产证券化的经验和理论,并在此基础上提出中国政府进行不动产证券化的相应模式。

While Chinese reform and opening, more and more governmental assets are adopting the market principle. be measured Despite its various marketing operation methods, we still consider that each method should by the principle of Maximizing the Social Utility Function. The great success of Link REIT＇s IPO provides a rare case of the Governmental Real Estate Based Securities. This paper will study the case of Link REIT, and focus on the Governmental Real Estate Based Securities in China. And the corresponding mode of the Governmental Real Estate Based Securities in China will be put forward.