我国保障房融资创新与风险控制的发展路径及立法建议--以美国政策性住宅金融发展的得失为参照

Approaches and Legal Suggestions for the Creation and Regulation in the Guarantee Housing Finance of China——learning from the experience and failure of American guarantee housing finance

在公私融合与金融经济的时代背景下,应当以商业性金融规则促进保障房融资创新并以法制建设推动风险控制体系的建设,从而构建专业、高效且安全的政策性住宅金融体制。美国政策性住宅金融发展的得失展现了灵活且富有针对性的法制建设、完整且富有层次性的市场结构、专业且富有效率的产品体系所具有的重要意义,也警示了严格的风险控制体系所具有的重要价值。我国目前的保障房融资结构存在诸多缺陷,应当以构建完备的政策性住宅金融体制为目标,加快建设并推出合理、可行的市场结构与产品体系,重点从供给和需求两个角度同步推进保障房融资的创新及风险控制,并切实完善相应的住宅金融法制建设。

Under the background of public-private interest integration and financial economy, we should use the business finance rules to promote the creation in guarantee housing finance and to construct the risk regulation system by legislating, so as to construct the professional, effective and safe guarantee housing finance. Learning from the experience and failure of American guarantee housing finance, we can see the importance of active and concrete legislatures, complete and frame-working market structure, besides, professional and effective products. We also can recognize the importance of strict regulation system on financial risks. Now, there are several disadvantages existing in our guarantee housing finance. In a word, we should construct the reasonable guarantee housin~ finance.