Section 1 F introduction of real estate group and its financial development path
Section 2 Typical cases of cooperation between real estate groups and trust companies
Section III F Real Estate Fund Business of Real Estate Group
The second chapter is the typical model and case of real estate trust financing.
Section 1 Perspective of Real Estate Trust Market
Section 2 Loan Methods
Section III Equity Mode
Section 4 Rights and Interests Mode
Section V Quasi-asset Securitization Model
Section 6 Combination Mode
Chapter III Operation Process and Risk Control of Real Estate Trust
Section 1 Basic Process and Risk Identification of Real Estate Trust Business
Section 2 Risk Control Mechanism of Real Estate Trust Project
Section 3 Risk Identification Skills for Investors to Buy Real Estate Trust Products
Chapter IV Real Estate Trust Financing with Different Subjects and Its Cases
Section 1 Real Estate Enterprises
Section 2 Local governments
Section 3 Real Estate Private Equity Fund
Section 4 Construction Enterprises
Chapter V Real estate trust financing at different time points and its cases.
Section 1 "Land Requisition" Period
Section 2 "Five Certificates" Period
Section 3 Duration of Property Holding
Chapter VI Different forms of real estate trust financing and their cases.
Section 1 Residence (Commercial Housing and Affordable Housing)
Section 2 Commercial Real Estate and Industrial Real Estate
Section 3 Tourism Real Estate
Chapter VII Real Estate Trust Financing with Different Needs and Its Cases
Section 1 Real Estate Development and Construction
Section 2 Real Estate Circulation Services
Section III Merger and Acquisition of Real Estate Resources
Chapter VIII Real Estate Funds: trust type, company type, limited partnership type and their combinations.
Section 1 Market Analysis of Real Estate Private Equity Fund
Section 2 Trust Real Estate Funds
Section 3 Enterprise Real Estate Fund
Section IV Limited Partnership Real Estate Fund
Section 5 Combined Real Estate Funds
appendix
1. Contact information of national trust companies
2. Shareholders of National Trust Company
3.20 10 1 Quarter to 20 1 1 Main business data of trust companies in the third quarter (including real estate trust)
4. Real estate trust laws, regulations and policy documents
5. Relevant draft of real estate trust legislation
6. Real estate trust related contract text (reference)
7. Real estate trust due diligence report (reference)
8. Text of related transactions of real estate trust (reference)
9. Transfer of beneficial right of real estate trust
10. List of trust financing of real estate enterprises (listed and unlisted)
1 1. Real estate fund (limited partnership) related text (reference)
12. Practical training program for real estate trust financing (for reference)
Foreword (Wang Lianzhou)
Wang Wei, editor-in-chief of Trust Law Network and general manager of Xinzejin Financial Consulting Company, with confidence and expectation for the future development prospect of China's trust industry, talked with me two years ago about some thoughts and ideas of his future exhibition industry: running Trust Law Network and Xinzejin Financial Consulting Company well with his own professional expertise, especially preparing to compile a series of books highlighting trust innovation and practical operation, so as to do some practical and beneficial work for promoting the root and development of trust system in China.
Originally, I was going to compile some major processes and experiences of my participation in trust legislation during my tenure in NPC Financial and Economic Committee into the first volume of the series. Its main contents include how I transferred from the head office of China People's Bank to NPC Financial and Economic Committee; The original intention and background of trust legislation; The main process and participants of trust legislation; Why the formulation of trust law has been delayed for eight years, and what are the main obstacles and controversial issues; Why does the legal definition of trust use "entrustment" of trust assets instead of "transfer" of trust assets? Why the trust law does not stipulate the business activities of trust institutions; The situation and feelings of participating in previous trust forums and trust surveys at home and abroad. Classification, supplemented by the interpretation of the main spirit of trust law, takes the form of two people's dialogue, and Fu Zi writes a book. This may provide some interesting reference materials for clarifying the cause and effect of the formulation of China's Trust Law, summarizing the experience and lessons in the implementation of the trust system, promoting the popularization of trust function knowledge, and expanding the future development ideas of people in the industry. This is a work that contributes to the popularization of the trust system, and there is no reason not to value it. The completed part of this work has been published in Trust Weekly of Trust Law Network. However, due to several moves of my office and residence, there are still many original materials reflecting the drafting activities of the trust law to be collected and enriched, so the time for Fu Zi to write a book has to be postponed.
At present, the book "Real Estate Trust Investment and Financing Practice and Typical Cases" edited by Wang Wei is the most mature preparation condition, which is naturally mentioned as the first publication to meet the market demand. The background is that with the promulgation and implementation of "one law and two regulations" of trust, it has greatly promoted the function of trust system in China and promoted the rapid development of trust returning to its main business. The ugly duckling who was once cowardly and indignant gradually turned into a white swan in the blue sky. 20 1 1 In the first half of the year, the assets of trust companies have far exceeded those of fund companies, reaching more than 3.7 trillion yuan, especially in response to the impact of the world financial crisis in recent years. The domestic investment plan of 4 trillion yuan has brought opportunities for the great development of domestic real estate trusts. 20 1 1 In the first half of the year, real estate trust experienced a round of "rare high-speed growth". In the second quarter, the balance of real estate trust assets reached 605.2 billion yuan, up about 24% from 486.9 billion yuan in the first quarter, accounting for 16.95438+0% of the total trust assets. Driven by the strong financing demand of real estate enterprises, the scale and proportion of real estate trusts frequently set new records. At present, real estate trust has become an important financial channel besides bank loans, and its awareness in society is also constantly improving. Faced with the tight monetary policy, real estate trusts are still attracting attention from all walks of life. However, the professional books on real estate trust urgently needed in the market are almost blank, and the few books on real estate trust in the market are mostly theoretical discussions or academic works. This is of no help to trust companies and professionals. In view of this, Wang Wei and others took the lead in editing and publishing the book "Real Estate Trust Investment and Financing Practice and Typical Cases", with the purpose of organically combining financial trust with real estate, and also to let readers master more practical knowledge of real estate finance in the atmosphere of "practice summary+case analysis".
This book focuses on the latest practical operation mode of real estate trust, taking "What problems can real estate trust solve for real estate projects" as the starting point, and comprehensively expounds the urgent need of using trust to solve real estate project financing from the perspectives of the subject, format and type of real estate trust financing. This book directly hits the hot spots in the market and introduces the business process, mode and cases of real estate trust financing to readers, involving the frontier practical information, practical knowledge, practical cases and financing skills of real estate funds. At the same time, the book presents readers with classic and vivid real estate trust financing practice cases in the mode of "professional knowledge elaboration+classic case display", and provides complete knowledge information and practical reference schemes for real estate and financial professionals. All these clearly highlight the practicality, practicability and practicability of this book, and it has become a rare and precious reading for practitioners in trust companies, real estate enterprises, banks, securities companies, insurance companies, law firms, real estate appraisal companies, guarantee companies, investment companies, private equity funds and other institutions, as well as researchers and students in financial, legal, investment and financing fields and scientific research institutes.
Wang Lianzhou
2011September 2 1
Postscript (Xin Zejin)
"The road is long, Xiu Yuan, and I will go up and down."
This book focuses on the practical operation and typical cases of real estate trust investment and financing, and makes a preliminary exploration and summary of the innovative practice of trust model in the field of real estate finance. As the first book of "Xinzejin think tank series", we sincerely hope to start with the hot topic of "real estate trust" and exchange views with colleagues.
First of all, I would like to thank the leading friends in the financial sector for their deep concern about this book. They not only provided ideas for writing, but also shared valuable experience, which gave us the courage and confidence to launch such a "difficult" booklet. Special thanks to Mr. Wang Lianzhou, who enjoys high prestige in the financial and legal circles. He not only served as the editor-in-chief of "Xinzejin Think Tank Series", but also prefaced this book and gave important guidance and strong support from all aspects.
Secondly, I would like to thank more than 60 trust companies in China trust industry. As energetic and creative non-bank financial institutions, they are not only the practitioners of real estate financial innovation, but also the initiators of many cases in this book. We are not writing a trust reader, but summing up trust practice. The rich practice and valuable experience of many trust companies undoubtedly provide the most vivid material for this book, which is also the source of the birth of this book. We hope this book can spread the values of trust companies.
Thirdly, I would like to thank Ding, Zhen Hao and Huang Ling of the editorial team of New for their great work in planning and writing this book. Liu Xianfeng, Wang Xiaohui, Du Zhiheng, Yu Le, Yuan Huibang, Zhao Xiaohua and other colleagues also participated in some editing and proofreading of this book. In a word, this book is the crystallization of teamwork, the joint efforts of the above colleague Qi Xin, and another brand-new attempt of Xinzejin in the trust research and development field.
Finally, we would like to thank Economic Management Publishing House for its strong support for the publication of this book, and especially thank Ms. Guo Lijuan for her great efforts in editing, proofreading and publishing this book. Whenever we open hundreds of pages of manuscripts and various charts in them, we will be deeply impressed by the unremitting efforts made by Ms. Guo Lijuan and other editorial colleagues between the lines. We hope that with the joint efforts of all of you, this book will become a useful attempt to spread China's trust concept.
"Trust nourishes finance and trust enriches wealth." Let's continue to uphold the concept of "trust is wealth" and spread the practical value of trust in the tide of financial reform and wealth management innovation in China, so as to benefit the society. We sincerely look forward to readers' valuable comments on the shortcomings of this book, and welcome colleagues to communicate with us on various topics of trust.
New Zejin R&D Center Book Editors Group
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