畢業(yè)論文外文翻譯中國房地產(chǎn)業(yè)融資渠道的創(chuàng)新研究英語原文+

1、北京聯(lián)合大學(xué)畢業(yè)論文外文原文及譯文題目： 新形勢下房地產(chǎn)企業(yè)融資創(chuàng)新性分析專業(yè)： 金融學(xué) 指導(dǎo)教師：學(xué)院： 管理學(xué)院 學(xué)號： 2007110303125班級： 071103031 姓名： 一、 外文原文 the research on financing channels innovation in chinese real estate industry according to the public information，the increasing rate in real estate investment hasobviously exceeded the fixed assets

2、 investmentbecause real estate investment account forover 20 percent in the aggregate fixed assets investment in china，real estate industry hasdriven the society investment and played more and more important role in chineseeconomy bank loans to the industry have ascended gradually since 1998the loan

3、 volume has 3been attained 6657 billion yuan in 2009， 2 times as much as that in 1998 at the sametimelpersonal house mortgagebacked loans has been increase dramaticallyin last 6years，the rate of these loans to total personal consuming loans is about 7597 percent.chinese current status of house finan

4、cing channels financing channels of chinese real estate enterprises are mainly focused on bankcreditother channels like ipo，entrust，bonds and special funds to obtain capital are ofquite less proportionhouse mortgagebacked loans came into being in 1998beforethat，the money users were real estate compa

5、nies.generally，chinese real estate industrygives priority to creditors rights financing the financing structure shows unitarycharacteristics bank credit is main channel for chinese real estate enterprises according to the operating process and capital chain figure of chinese real estate lmarket，we c

6、ould find that bank loan has been running through the whole process of landreservation，land transaction，development and salecommercial banks are almost the onlycapital providers of all principals in chinese rea1 estate market real estate trust fund become chinas relatively active financing form our

7、country has experienced three years of industries into again after thereorganization 2010 rapid development track of the real estate industry to the end of thetrust property 24.1 million yuan has reached the total trust property than the total 2.82early mbm1260 million yuan increase in 2010 grew nea

8、rly 110 real estate trustscontinue with higher speed growth but the overall perspective real estate trusts function isrelatively single real estate capital trust most is to provide plan i.e. bridge loans mainlyfor commercial bank loans conditions did not reach the real estate project to provide anin

9、itial trust credit these trust has no plan for basic portfolio investment function conversionfunction and duration.chinas real estate financing problems development fund relied on a bank loan this dependency makes the real estate investment market risk and financing credit riskfocused on commercial

10、bank l according to statistics estimate 80 of the land purchaseand real estate development funds are directly or indirectly from the commercial bankcredit l through housing consumption loan and real estate development loans constructionenterprise liquidity loan and land reserve loans etc all forms o

11、f credit assets concentratedcommercial banks actually directly or indirectly under a real estate market operation ofvarious links market risk and credit risk. financial institutions exist management behavior irrational not science is notstandard etc because the real estate commercial bank universal

12、credit as a fine assets vigorouslydevelop in business to produce the tendency of the eager such as some commercial banksto reduce customer the threshold level of qualifications assessment will examineformalities simplify will examine speed etc l also like in real estate loans issued in theprocess so

13、me commercial banks to government guarantee and government interventionproject optimistic blindly even blind adored and ignored these projects have risk. be likeagain at present a lot of real estate trusts is basically about the terms of reference bank lloans to implementation was largely bank loans

14、 and trust company in varieties of entrustloan monitoring operation and management experience may not commercial banks.the real estate industry financing channel innovation design developing diversified real estate finance market in a mature real estate finance market real estate develop and operati

15、on financing hasnot only the creditors rights financing and equity financing two basic forms and in thecreditors rights financing and equity financing outside the primary market there aredeveloped in the secondary market l securitization of secondary market all kinds offinancial innovation produced

16、emerge in endlessly of real estate finance tools includinginvestment fund trust securities stock index is such through various investors in l of realestate finance market financial asset securitization the secondary market buysindependently of the original focus on real estate credit agency market r

17、isk and credit riskeffectively scattered throughout the financial market various investors. real estate capital trust instead of real estate trusts real estate development is a long life cycle high risk capital-intensive industriesmanagement intensive investment behavior. developing the enterprises

18、equity financingconditions of the poor equity financing means fail to play its full role. thus preventingfinancial risks firstly is open financial markets let more private investment partly replacebank risk. existing the future development direction of real estate trusts for real estatedevelopment s

19、hould be the acquisition buying and selling leasing administration andother links provided comprehensive financial services adapt to the characteristics of realestate industry providing effective financing and risk management. to strengthen the management of individual housing loan individual housin

20、g credit by the formation of the financial assets are increasingly thecommercial banks should improve the pillar l personal housing loan managementmeasures regulate individual loan examination procedures and standards promote thestandardization of personal housing loan business and gradually establi

21、sh and perfectpersonal credit registry system to improve the personal housing loan guarantee systemspeeding up improving housing loan guarantee measures to guarantee agencies strengthenregulation and oversight the business of standardization demonstrative text guarantycontract in order to improve th

22、e creditworthiness of residents individual housing loan to lthe bank ensure personal housing loan recovery effectively prevent loan risks.finally tostrengthen the individual customers credit review timely do risk early-warning work. l 二、譯文 中國房地產(chǎn)業(yè)融資渠道的創(chuàng)新研究 據(jù)公開資料顯示，房地產(chǎn)開發(fā)投資增速明顯快于固定資產(chǎn)投資。由于房地產(chǎn)投資在全社會固定資產(chǎn)投

23、資中所占比重約 20。在中國的經(jīng)濟中，房地產(chǎn)業(yè)帶動了社會投資并且發(fā)揮著更重要的作用。 用于房地產(chǎn)開發(fā)的銀行信貸自 2000 年起逐年上升，2009 年擴大到 6657 億，是2000 年的 3.2 倍，與此同時，個人住房抵押貸款顯著增長。幾年來，個人住房貸款占個人消費貸款比高達 7597。相比于 00 年，個人住房消費貸款增加了 1.14 萬億元，增長了 26.64 倍。我國目前房地產(chǎn)行業(yè)融資渠道分析 我國房地產(chǎn)企業(yè)的融資渠道主要集中在銀行信貸，其他金融方式如上市融資、信托融資、債券融資和基金融資等占比較小。而在1998 年以前，銀行房地產(chǎn)信貸的主要對象是房地產(chǎn)開發(fā)企業(yè)，1998年以后才擴展到

24、個人住房消費信貸，可見我國房地產(chǎn)金融以債權(quán)融資為主，股權(quán)融資比例較小，融資格局較為單一。 銀行信貸是房地產(chǎn)金詰鬧髑?從我國房地產(chǎn)市場的運行過程及其資金鏈來看，房地產(chǎn)金融主要是由銀行房地產(chǎn)信貸構(gòu)成的，銀行信貸貫穿于土地儲備、交易、房地產(chǎn)開發(fā)和房產(chǎn)銷售的整個過程。在我國的房地產(chǎn)市場上，商業(yè)銀行的信貸幾乎介入了房地產(chǎn)業(yè)運行的全過程，是我國房地產(chǎn)市場各種相關(guān)主體的主要資金提供者。 房地產(chǎn)信托基金成為我國較活躍的融資形式 我國信托業(yè)經(jīng)歷了3年的整頓后，再次步入了快速發(fā)展的軌道2010年底，投向房地產(chǎn)業(yè)的信托財產(chǎn)已達24.1億元，占全部信托財產(chǎn)總額的2.82，比年初增加12.6億元，增幅接近110。201

25、0年房地產(chǎn)信托繼續(xù)以較高的速度增長，但總體上看，目前房地產(chǎn)信托功能較為單一，房地產(chǎn)資金信托計劃大部分是提供“過橋貸款”，即主要為未達到商業(yè)銀行貸款條件的房地產(chǎn)項目提供前期信托信貸，這些信托計劃基本不具有組合投資功能和期限轉(zhuǎn)換功能。 l我國房地產(chǎn)融資中存在的問題 開發(fā)資金過多依賴銀行貸款 這種依賴使得房地產(chǎn)投資的市場風(fēng)險和融資信用風(fēng)險集中于商業(yè)銀行。根據(jù)統(tǒng)計 80估算， 左右的土地購置和房地產(chǎn)開發(fā)資金都直接或間接地來自商業(yè)銀行信貸。 通過住房消費貸款、房地產(chǎn)開發(fā)貸款、建筑企業(yè)流動性貸款和土地儲備貸款等各種形式的信貸資金集中，商業(yè)銀行實際上直接或間接地承受了房地產(chǎn)市場運行中各個環(huán)節(jié)的市場風(fēng)險和信用風(fēng)險。 金融機構(gòu)存在經(jīng)營行為不理性、不科學(xué)、不規(guī)范等問題 由于商業(yè)銀行普遍把房地產(chǎn)信貸作為一種“優(yōu)良資產(chǎn)”大力發(fā)展，在經(jīng)營業(yè)務(wù)上容易產(chǎn)生急功近