公租房建设资金来源渠道研究

发布时间：2018-03-18 20:43

本文选题：公租房　切入点：资金来源渠道　出处：《重庆大学》2013年硕士论文　论文类型：学位论文

【摘要】：随着市场配置和政府保障相结合制度的建立，公租房建设对完善保障性住房体制、优化房地产资源配置具有战略性举措。但是筹入的资金不足、来源渠道单一、融资效率低已成为目前我国公租房建设发展的瓶颈，它所导致的公租房建设进度缓慢、供应不足等问题势必会影响到我国住房保障制度的有效实施，不利于保障我国“夹心层”住房的基本权利。因此，如何有效地解决公租房建设的资金问题是促进其健康发展的重要条件。本文主要研究公租房建设的资金来源渠道问题，探析多元化资金来源渠道及其优化组合，为其提供可靠的资金循环保障，为公租房建设的资金筹集提供一个思考的方向。主要研究内容如下：第一部分论述了公租房建设资金的现状。宏观上分析了公租房的建设现状，并结合我国公租房供需的非均衡状态探讨资金问题，微观上结合公租房与其他保障性住房和商品房的区别及其特性，分析公租房建设的主要资金来源及筹资特点；通过对公租房建设资金来源和筹资方式的探索与实践进行系统地研究，分析总结我国公租房筹资存在的主要问题。第二部分进行了公租房建设资金来源渠道分析。以现代融资理论为基础，采用SWOT方法对公租房建设贷款、债券、REITs等主要渠道进行比较分析，介绍了几种资金来源渠道各自的优势、存在的问题，目前面临的外部环境机会、威胁；基于对各渠道的对比分析及项目各阶段的资金需求探析资金来源渠道的多元化，，形成“财政资金+短期融资+长期融资”的组合渠道筹集资金，分散和化解公租房建设筹资不足、单一化带来的金融风险。第三部分论述了多元化组合融资渠道的选择及措施。结合融资选择的原则，利用模糊综合评价模型评判各资金来源渠道的融资效率，为多元化资金来源渠道的选择及其优化组合提供决策参考，选择“财政资金+银行贷款+REITS”组合筹资；通过政策环境支持、构建完善的投融资金融体系、拓展公租房项目收益方式，确保融资还贷渠道稳定，打造资金融通与偿还循环链，提高我国公租房建设的融资能力与融资效益。
[Abstract]:With the establishment of the combined system of market allocation and government security, the construction of public rental housing has strategic measures to perfect the affordable housing system and optimize the allocation of real estate resources. The low efficiency of financing has become the bottleneck of the development of public rental housing construction in China, which will inevitably affect the effective implementation of the housing security system. Therefore, how to effectively solve the problem of public rental housing construction is an important condition to promote its healthy development. This paper analyzes the channel of diversified capital source and its optimized combination, provides reliable fund circulation guarantee for it, and provides a thinking direction for raising funds for the construction of public rental housing. The main research contents are as follows:. The first part discusses the current situation of the public rental housing construction funds, macro analysis of the construction of public rental housing status, and combined with the supply and demand of public rental housing supply and demand imbalance state to explore the funding problem. According to the differences and characteristics of public rental housing and other public housing and commercial housing, the paper analyzes the main sources of funds and financing characteristics of public rental housing construction. Through a systematic study of the sources of public rental housing construction funds and the ways of raising funds, this paper analyzes and summarizes the main problems existing in the financing of public rental housing in China. The second part analyzes the sources of public rental housing construction funds. On the basis of modern financing theory, this paper makes a comparative analysis of the main channels, such as public rental housing construction loans, bonds and REITs, using the SWOT method. This paper introduces the advantages, existing problems, opportunities and threats of the external environment, and analyzes the diversification of the sources of funds based on the comparative analysis of each channel and the fund needs of each stage of the project. The formation of "financial funds short-term financing long-term financing" combination channels to raise funds to disperse and resolve the lack of financing for public rental housing construction, the financial risks brought by the simplification. The third part discusses the choice and measures of the diversified combination financing channel, combining the principle of financing choice, using the fuzzy comprehensive evaluation model to evaluate the financing efficiency of the various sources of funds. It provides a decision reference for the choice of diversified sources of funds and their optimal combination, chooses the combination of "Financial Capital Bank loan REITS", and constructs a sound investment and financing financial system through the support of policy environment. In order to improve the financing ability and benefit of the construction of public rental housing in China, we should expand the income mode of public rental housing project, ensure the stability of financing channels, create a circulation chain of financing financing and repayment, and improve the financing efficiency of public rental housing construction in China.
【学位授予单位】：重庆大学
【学位级别】：硕士
【学位授予年份】：2013
【分类号】：F299.23

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