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荊門翻譯公司關鍵字：Real estate investment trusts as an effective means to invest in financial markets can stimulate activity and, as a means of financing can also promote the development of real estate, real estate and the whole national economy for our country has been very positive. However, due to China's relevant laws and regulations are not perfect, plus real estate investment trust in China is still a new thing, so in the development of China's real estate investment trust, there are still many problems.
Laws and regulations are not perfectIf our trust in accordance with the current owners of the "Trust Law", "Trust and Investment Corporation management approach", "Trust and Investment Corporation Interim Measures fund trust business" requirement to conduct business. From the current domestic legal environment, the real estate investment trust products can not be raised, can not be traded, can not break through the 200 limit, but to use private equity form, not as foreign as, truly securities to investors as Trading stocks, at any time choose to buy, hold, sell. Meanwhile, the use of funds raised, although the design of loans to real estate ventures, equity investments in real estate ventures, buying commercial buildings and residential use of such combinations direction, but in fact can only be used for short-term loans and ask for the short-term property investment repurchase behavior, not long-term or permanent purchase commercial property for lease, business and other commercial operations.Moral hazard problemReal Estate Investment Trust is not yet perfect in our mode of operation, the effective constraint on the trustee and the incentive mechanism has been formed, prone to moral hazard of trustees. In this case, because of information asymmetry, trust and investment companies in the business management process will often take advantage of opportunities to sacrifice the interests of investors for their own personal benefit. Therefore, how to create an environment or system, as far as possible the interests of the trust of investors and consistent with the interests of the trustee, the development of real estate investment trust is very critical. Although the CBRC "Interim Measures" provides that "real estate trust funds trustees, custodian and shall not use the same person, and there is no association between", but due to lack of proper monitoring mechanism established, trust is still possible will reduce the client's investment requirements to invest in and own the associated real estate companies, contrary to the principle of maximizing return on investment real estate trust market risk primarily from the risks of the project itself, the choice of the project is the first real estate trust work, if the market outlook for the project itself, the internal legal disputes, shortage of construction funds and other issues, the trust products designed to control risk regardless of how the project itself, birth defects can not be avoided.Further improve the proposed real estate investment trust
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