【導(dǎo)讀】投資組合的金融信托產(chǎn)品。與傳統(tǒng)金融產(chǎn)品相比，房地產(chǎn)投資信托基金最大的特。資組合，享受稅收上的優(yōu)惠，實現(xiàn)投資效益。REITS自20世紀(jì)60年代在美國。國家和地區(qū)引人和采用。其他相關(guān)法律的保護。與此同時，房地產(chǎn)投資信托由于其自身獨特的特點，對受。是信托融資得到了較快發(fā)展。其中8月發(fā)行規(guī)模為221億元，發(fā)行數(shù)量為50個。據(jù)Wind資訊統(tǒng)計，2021年，國內(nèi)15家上市房地產(chǎn)公司通過信托融資渠道，共獲得資金合計億元，平均每家地產(chǎn)公司融資億元。司則有3家，而融資額小于5億元的上市公司則有7家。在具體措施方面，明確表示“開展房。目前，國務(wù)院已批準(zhǔn)北京、上海、美國大多數(shù)的州都遵從這項聯(lián)邦條約，也不要求REITs繳納州所得稅。SEC制定的上市規(guī)定、準(zhǔn)則和要求。式，而REITs正是適應(yīng)這一需求而產(chǎn)生的。目前美國REITs中50%以上為機構(gòu)投資者持有，研究表明。REITs源于美國，迄今已有近50年的歷史。在美國迅猛發(fā)展，逐步成為商業(yè)地產(chǎn)投資的主流。

　　

【正文】 tory authorities formulated a unified the real estate trust business guidelines to facilitate the development of market regulation and risk prevention. Vigorously pursue real estate investment trust product innovation First, the term structure designed to improve trust products. The introduction of the term structure of elasticity in product design, that trust can advance or delay the end of the trust scheme according to the project schedule. This delay period can also be seen as a risk buffer arrangement for enterprises raise funds or trust pany handling cash collateral provided time. Second, enhance the security of trust products. Risk control process, can be introduced relevant specialized agencies, risk intervention plan control process throughout the Trust, the Trust plans to credit enhancement. At the same time, you can introduce good reputation influential credit rating agency credit ratings on trust products. By credit rating agencies in the independent, objective and impartial manner, through standardized risk rating process and risk index system, the credit status of the trust products to make an accurate assessment of the risk lies tips to maximize and protect the interests of investors. Finally, change the ine trust products payment. To meet the different preferences of investors, trust and investment panies can increase revenue payment methods, such as different programs take different ine payer or regional economic crossbar by dividing earnings for the same program, using the corresponding benefits payment. Develop and improve the secondary market trust products First, build trust trading distribution platform, consider the establishment of a trust information exchange center, centralized platform to build trust contract the transfer of information, is responsible for the development of each pany accepted the trust plans to collect information on potential transactions wishes of customers, the transfer of information disclosure, the trust plans customers can share transaction information in this way reduces the trust transfer contract during transaction costs. Secondly, the implementation of standardized trust products in the entire industry. As the existing real estate trust products basic arrangement is designed as the core of a particular project, the lack of standardization of products, without having to copy, leading investors to choose difficult to judge, is not conducive to trust products circulation. Standardization of the trust contract, trust plan for the future should be possible to develop standardized equity certificates to facilitate circulation. Develop favorable REIT tax system In other countries, 80% of real estate investments by taxdriven, 20 percent driven by investment philosophy, tax drive is worth promoting. Property involved in real estate trust business includes not only funds, but also including land, property and other types, such property transfer, transfer, value added tax issues caused more prominent, the tax burden is too heavy to directly inhibit the innovation and development of space services. As the real estate trust for the development of China39。s real estate industry, and even run the entire national economy plays a positive role in promoting, therefore, we need to introduce relevant laws, regulations, tax breaks for real estate investment trust, in order to encourage their development. Specifically, international experience, follow the tax fairness, to avoid duplication of tax, to facilitate the collection and management principles, the suspension of tax at the time of transfer of property, real estate and other related to the expiration of the trust real property transfer, in accordance with existing national regulations by the original property property parties and new parties to pay property taxes on the property occurs if there is no real transfer of the property returned to the client, it should be exempt from taxation. Foster qualified institutional investors At present, China39。s insurance panies, pension funds, corporate pension funds, investment funds, financial products have a certain size and exhibit a strong vitality. REITs lower risk, ine and stability characteristics of such institutions to meet the requirements of investors. Meanwhile Empirical analysis shows that adding REITs in the portfolio can reduce investment risk and improve profitability. Therefore, the relevant government departments should encourage corporate pension funds, investment funds, financial products active configuration REITs products.