Pre-financing is pre-financing, which generally refers to the pre-financing of real estate. At this time, the real estate project is in the stage of incomplete documents, such as land auction, and it is impossible to obtain low-cost funds from banks. At this time, it will be a high-cost financing behavior for other subjects.

Other investors include real estate funds, trusts and other limited partnerships. It mainly adopts the way of shareholding plus equity repurchase, or the way of buying specific asset income right/project company equity income right and repurchasing.

The content of this article comes from: China Law Publishing House "General Knowledge Series of Legal Life"