青岛市保障性安居工程系统融资模式研究

发布时间：2018-05-09 09:07

本文选题：安居工程 + 融资模式　；参考：《中国海洋大学》2013年硕士论文

【摘要】：保障性安居工程作为我国一项重大的民生工程,通过大规模建设保障性安居工程,有利于化解社会矛盾,促进社会和谐稳定,同时,还可以分流商品住房市场需求,对市场起到“镇静剂”的作用。然而我国保障性安居工程起步时间不长,住房保障的覆盖面还不够大,从某种程度上说,资金来源问题是影响保障性安居工程顺利推广的重要因素。从青岛市情况来看,青岛市委市政府高度重视保障性安居工程建设,截至2011年底,市区两级政府已投入住房保障资金约24亿元,市区两级财政通过直接投入或让渡土地收益方式用于住房保障方面的资金已超百亿。然而,传统的融资模式已无法满足未来发展需要,亟需借鉴国内外经验,拓宽保障性安居工程的融资渠道,构建青岛可持续发展的保障性住房发展体系。青岛市现有的保障性住房包括城市廉租住房、经济适用住房、公共租赁住房、“两改”房(旧城改造和旧村改造房)。从青岛市保障性安居工程建设发展历程看,可分为三个阶段：即起步阶段、成效初显阶段、全面惠及阶段。目前青岛市已经确定了保障性安居工程的近期、中期和远期目标,预计到2015年、2020年、2030年,将分别累计解决29.05万户、39.05万户、59.05万户保障性住房需求,同时确定了保障性安居工程的发展思路为：重点发展公共租赁住房、按需建设经济适用住房、增加限价商品住房供应数量、继续实施旧住宅区整治改造、推进旧城区和城中村拆迁改造步伐。根据以往青岛市保障性住房投资总量,结合国家、省对青岛市保障性住房建设目标,预计未来5年青岛市保障性安居工程资金需求大致在711-847.6亿元之间,而从现有资金供给渠道看,资金供给总量为677.35亿元,其中财政拨款和内部自筹累计179.35亿元,可用银行贷款为498亿元,资金缺口最小为33.65亿元,最大为170.25亿元。因此,按照目前资金供给渠道,还无法满足青岛市未来5年保障性安居工程资金需求,需要拓宽资金供给渠道,解决保障住房建设规划。保障性安居工程是各国面临的共同问题,国内外学者对保障性安居工程建设问题进行了理论和实践层面的探讨比较多。从国外情况看,主要有政府财政拨款、地方政府发行债券、房地产信托基金(REITS)、政府担保专项基金四种方式；从国内情况看,除了传统的政府拨款、银行贷款等融资模式外,目前部分城市在尝试引入保险资金、社保基金、公积金贷款等方式解决保障房资金来源问题。而青岛市目前成立了青岛市公共住房建设投资中心和青岛市建设投资中心两个政府背景的保障性安居工程投融资平台,分别负责全市保障性住房建设和两改房建设,针对四类保障性住房分别设计了不同的融资模式。但从盈利分析情况看,不同的保障房收益水平不平衡,导致融资还面临一定的困难,如政策支持体系尚不完备、风险缓释措施存在不足、开发商参与保障房建设缺乏激励机制、政府财政支出压力及资金缺口大、还款保障机制仍显薄弱等问题,这在一定程度上影响了未来5年保障性住房资金供应,因此需要进一步拓宽保障性住房融资渠道。根据国、内外实践,结合青岛市实际情况,房地产信托基金(REITs)是一种较好的融资方式,地方政府通过现有的能产生稳定租金收入的持有型物业资源,设立REITs,发行信托投资单位筹集资金,然后将募集资金用于保障房建设,待新建成的保障房能产生稳定的租金收入和政府补贴后,可再注入原REITs或发行新的REITs筹集资金,从而实现保障房建设资金的良性循环。但要确保REITs融资模式成功运行,还需要进一步转变政府角色,使其由目前的直接投资者和经营管理者,逐步转变为保障性住房融资的引导者、合作者和监督者；逐步形成政企合作共建的局面,制定合理的风险分担机制和退出机制,提升投资回报激发开发商投资热情；引导银行机构支持保障性住房建设,创新金融产品对接保障性住房资金需求,鼓励银行机构参与保障性住房项目融资。
[Abstract]:In view of the situation of Qingdao , the municipal government attaches great importance to the construction of affordable housing projects . However , the traditional financing model is not enough to meet the future development needs . However , the traditional financing model can not meet the needs of future development . However , the traditional financing model can not meet the needs of the future development . However , the financing channel of the affordable housing project needs to be widened , so as to construct the sustainable development system of the sustainable development of Qingdao .

In the light of the development of the safeguard housing project in Qingdao , it is expected that the capital requirement of affordable housing in Qingdao is between 711 and 847.6 billion yuan . In addition , it is expected that in the next five years , the total amount of capital supply is RMB 7.65 billion yuan , the largest amount is RMB 172.5 billion yuan . Therefore , according to the current fund supply channel , it is not possible to meet the capital requirements of the future five years ' support security of Qingdao City . Therefore , it is necessary to widen the supply channel of funds and solve the plan of housing construction .

It is a common problem faced by all countries , and scholars at home and abroad have made a theoretical and practical discussion on the construction of affordable housing projects . From abroad , there are mainly government financial allocations , local government bonds , REITS and government guarantee funds .
In view of the domestic situation , in addition to the traditional government allocation , bank loan and other financing modes , some cities are trying to introduce insurance funds , social insurance funds and accumulation fund loans to solve the problem of financing source .

According to the actual situation of Qingdao , the real estate trust fund is a kind of better financing way , and the local government can raise funds through the existing holding type property resources which can produce stable rent income .
gradually form a situation of co - construction of state - owned enterprises , formulate rational risk - sharing mechanism and exit mechanism , promote investment return and stimulate investment enthusiasm of developers ;
To guide the banking institutions to support the construction of affordable housing , to innovate financial products to meet the needs of affordable housing funds , and to encourage banking institutions to participate in the financing of affordable housing projects .

【学位授予单位】：中国海洋大学
【学位级别】：硕士
【学位授予年份】：2013
【分类号】：D632

【参考文献】