中国房地产投资信托运行模式设计与制度创新研究

Research on the Design of Operation Mode and Institution Innovation for Real Estate Investment Trusts in China

对比分析美国与中国香港房地产投资信托发展与运行模式,结合中国房地产信托发展现状,提出中国应以中国香港模式为主要参考,创新运行模式,设立信托型、权益型房地产投资信托,落实税收优惠制度,以公共租赁住房为试点,专项立法设立房地产投资信托制度,发展具有中国特色的公共租赁住房投资信托。

The paper compares the development and operating mode of real estate investment trusts in America and HongKong,on the basis of the development of real estate trusts in Chinese mainland,the paper proposes that Chinese mainland should mainly reference the HongKong mode,create operating mode,set trust-based and equity-based real estate investment trust,implement tax incentive system,take public rental housing as a pilot,set up special legislation to establish real estate investment trust system,and develop Chinese characteristics public rental housing investment trust.