Real EstateTrusts ( ) is a specialized fund in real estate. It raises funds publicly and passes the funds to the professional organization which invests the funds into real estate industry or relevant project to obtain investment income and capital appreciation.The birthplace of the is United States, in some foreign countries such as the United States, Australia, France, Japan, Singapore and other countries, the developed well. Currently the REITs worldwide value of more than 480 foreign countries has exceeded real estate investment trust market value of more than 605 billion U.S. dollars. The market value of the 148 American real estate trust is up to＄300 billion.The stability and healthy development of real estate plays a key role. At present the real estate’s over-reliance on fund bank loans is not favorite to the development of REITs in China. If we can change the single financing channel the development of REITs is beneficial in China.Since 2008, the country has began to tighten bank credit, increase the down payment, ask the deadline for development, network inventory store room and so on, all above makes the real estate development enterprises begin to the return of funds to ease the plight of the shortage of funds. This year, the central bank has raised interest rates three times already and made macro-control policies and the effect gradually come into truth, it is harder for the real estate developers to obtain loans from banks. In this environment, the securitization of real estate becomes a realistic option.REITs provided a large amount of private capital real estate development in China’s and to some extent it avoided excessive investment risk due to speculative demand. In addition, bank has it changed the single financing model,reduced dependence on bank loans for real estate and optimized the internal structure of the real estate industry, accelerated compete effect by the internal configuration of real estate resources. It also changed mechanism in the real estate business. However, in the development of REITs in China there are still some institutional and non institutional barriers. Therefore we should take appropriate measures to address these issues to promote the development of REITs in China.This paper is divided into six chapters. As introduction part, the chapter I includes the background, significance and literature reference both home and aboard. ChapterⅡwrites some principles related to REITs and describes the status t of REITs in three countries:USA, Japan and Singapore. Chapter III describes the significance of the development of the REITs and the favorable factors in China. Chapter IV describes the status of REITs in China mentions the existing obstacles of the development of the REITs in China. Chapter V give some suggestions and strategies for and the barriers, Chapter VI is the conclusions of this paper.The innovation of this paper is to collect the latest development of China’s real estate market data, to collate drawing analysis, the introduction of two typical cases for analysis and evaluation, in the fifth chapter it gives specific measures for the existing barriers and gave some suggestions for the future development of REITs in China.But the article also has some shortcomings. On the one hand, the development of the REITs in China is not mature, it is known as the “similar REITs” in China. It has a large difference from the real REITs products, which brings much difficulty to the evidence analysis of this paper. On the other hand, China’s market environment and legal System are very different from the foreign countries. So defects still exits in studying the operating mechanism and the theory of the REITs.
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