本文選題：公租房 + 投資基金　； 參考：《重慶大學(xué)》2012年碩士論文

【摘要】：參考近幾年中央出臺的宏觀政策中關(guān)于保障性住房的內(nèi)容，調(diào)研地方政府配合實(shí)施的保障計(jì)劃，不難發(fā)現(xiàn)，公租房已經(jīng)逐漸成為今后一段時間內(nèi)保障性住房發(fā)展的中堅(jiān)力量。公租房不僅涵蓋了以往的廉租房和經(jīng)濟(jì)適用房，而且將保障范圍擴(kuò)大至階段性住房支付能力不足的中等收入群體和暫時性住房困難的低收入群體。大體量、長周期的公租房建設(shè)需要巨額資金的支持，而承擔(dān)著公租房投資建設(shè)任務(wù)的地方政府面臨著資金來源渠道單一、籌資難度愈來愈大、負(fù)債風(fēng)險越來越高的融資瓶頸。 為緩解公租房建設(shè)資金緊張和融資壓力，本文借鑒國外公租房融資的經(jīng)驗(yàn)，總結(jié)分析國內(nèi)公租房融資現(xiàn)狀和面臨的問題，在研究投資基金中資產(chǎn)證券化和REITs的基礎(chǔ)上提出了類REITs的概念和基于類REITs的公租房融資模式。本質(zhì)上講，類REITs作為一種投資基金，它整合了資產(chǎn)證券化和REITs各自的特性和適用領(lǐng)域，結(jié)合公租房項(xiàng)目資產(chǎn)所具有的金融特性而衍生的一種金融概念。基于類REITs的公租房融資模式是借助SWOT分析理論，綜合系統(tǒng)分析公租房政策及現(xiàn)狀、國內(nèi)民間資本儲蓄及發(fā)展、政府融資困境與機(jī)遇等，評價自身的合理性和必要性，總結(jié)出的一套適用于公租房項(xiàng)目融資的機(jī)制架構(gòu)，，包括了兩個層面的涵義：管理角色定位及管理層級構(gòu)建與在公租房融資應(yīng)用中的流程安排。 最后，借鑒投資基金在發(fā)達(dá)國家或地區(qū)的成熟制度和運(yùn)營經(jīng)驗(yàn)，根據(jù)我國公租房和金融業(yè)實(shí)際現(xiàn)狀，本文對類REITs在當(dāng)前法律法規(guī)的基礎(chǔ)上進(jìn)一步完善立法，采取必要的風(fēng)險控制措施等核心研究外圍基礎(chǔ)配套上也提出了一些看法。
[Abstract]:Referring to the contents of the macro policy issued by the central authorities in recent years and investigating the security plans implemented by local governments, it is not difficult to find that public rental housing has gradually become the backbone of the development of affordable housing for some time in the future. Public rental housing not only covers the past low-rent housing and comfortable housing, but also extends the coverage to the middle income group with inadequate housing capacity and the low-income group with temporary housing difficulties. Large volume, long-term public rental housing construction needs a huge amount of funds to support, and the local government is facing a single source of funding, financing difficulties, debt risk is becoming more and more high financing bottleneck. In order to alleviate the shortage of funds and financing pressure of public rental housing construction, this paper draws lessons from the experience of foreign public rental housing financing, summarizes and analyzes the domestic public rental housing financing status and problems. Based on the study of asset securitization and REITs in investment funds, this paper puts forward the concept of REITs and the financing mode of public rental housing based on REITs. In essence, as an investment fund, quasi-REITs integrates the respective characteristics and applicable fields of asset securitization and REITs, and combines the financial characteristics of public rental project assets to derive a financial concept. The public rental housing financing model based on REITs is based on the SWOT analysis theory, synthetically analyzes the public rental housing policy and the present situation, the domestic folk capital savings and the development, the government financing predicament and the opportunity and so on, evaluates own rationality and the necessity. A set of mechanism framework suitable for public rental housing project financing is summarized, which includes two aspects: the positioning of management role, the construction of management hierarchy and the process arrangement in the application of public rental housing financing. Finally, based on the mature system and operation experience of investment funds in developed countries and regions, according to the actual situation of public rental housing and financial industry in China, this paper further improve the legislation of REITs on the basis of current laws and regulations. Some views are also put forward on the peripheral basis of the core research, such as taking necessary risk control measures.
【學(xué)位授予單位】：重慶大學(xué)
【學(xué)位級別】：碩士
【學(xué)位授予年份】：2012
【分類號】：F293.3;F832.4

【引證文獻(xiàn)】

相關(guān)碩士學(xué)位論文 前1條

1 潘洋;廣州公租房建設(shè)中REITs融資的方案設(shè)計(jì)[D];華南理工大學(xué);2013年

本文編號：1910335