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房地产行业是资本密集型行业,对资金需求量非常大,但由于融资渠道有限等原因,房地产行业融资受国家政策影响较大。2003年,以规范房地产信贷为主要内容的“121号文”对于依靠银行贷款的房地产企业来讲,可以说是釜底抽薪,许多房地产企业因此陷入困境。房地产开发企业不得不寻求银行信贷之外的其他融资方式。除银行贷款外,目前房地产企业可以采用的融资方式有发行股票并上市、信托融资、发行企业债券、股权投资、产业基金等。在众多的融资方式里,发行股票并上市从而实现与资本市场对接的融资方式最受开发商重视。
The real estate industry is a capital-intensive industry with huge demand for funds. Due to limited financing channels, the financing of the real estate industry is greatly affected by the national policies. In 2003, to regulate real estate credit as the main content “No. 121 ” For real estate companies rely on bank loans, it can be said is a drastic change in salary, many real estate companies are in trouble. Real estate development companies have to seek other ways of financing other than bank loans. In addition to bank loans, the real estate companies can use the current financing methods include the issuance of shares and listing, trust financing, issuing corporate bonds, equity investments, industrial funds. In many ways of financing, the issue of issuing shares and listing in order to achieve docking with the capital markets, financing most developers attention.