Zhang Hua:**Investors of Blue Ocean Real Estate

“2010 is the first year of China’s real estate fund, and this year is the time for development.” Zhang Hua, Managing Director of Rongsheng Taifa Beijing Investment Fund Management Co., Ltd., is in the opinion forum held in April 21, Wuhan Real Estate New Media. Indicated.

Zhang Hua believes that real estate funds can share risks for housing companies, expand the scale of enterprises, and improve efficiency and management. He pointed out that since the real estate fund is generally a share, it is also possible to adjust the reporting structure of the housing enterprises and drastically reduce the debt ratio.

In a speech entitled "Fund Blue Ocean: Real Estate Investors," Zhang Hua pointed out that the real estate market in the future will still maintain a good upward trend. The real estate market support factors will continue to exist for a long time along with China's economic development, and any short-term partial market adjustment or policy adjustment will not fundamentally shake it.

Zhang Hua said that due to the promising market prospects, eight of the top ten international funds have already entered the Chinese market. At present, many domestic developers have set foot in the PE business and real estate funds are unstoppable in China.

The following is a live recording of Zhang Hua:

The fund has had a history of many years internationally, and the real estate fund has been born for about 30 years. 2010 is the first year of the China Real Estate Fund. This year is the time for development.

Last year, there were 30 billion U.S. dollars in the world, and the number of real estate funds was still very small. We probably have close to 10 well-functioning funds. In the first year of 2010, the ups and downs were mixed, and the establishment of industry rules was still in progress.

Opportunities and challenges coexist Since the beginning of this year, the state's total regulation and control efforts have been unprecedented, and strategic measures for prohibition of purchase have been proposed in different regions. Safeguards have proposed such a large amount, and these heavy-headed measures have not been taken without the model being finalized. The final result may still need to be observed.

The real estate market still maintains a good upward trend. The sales area and the completed area are all continuing upwards. Some people say that China's macro-control over the past 10 years has been ineffective. We have also been concerned about the direction of the policy.

If you look closely, you will find that from 2004 to the present, seven years, in addition to the middle of a straight up and down, and this is because the world has entered the financial crisis, China has a policy of frequent changes, other time The curve is basically between 10% and 18%, and the national housing price increase averages 13.2%. The first and second-tier cities have even higher gains.

Since 1998, although these prices have been subject to regulation and control during the past ten years, prices have continued to rise upwards. I think the reasons for the rise in housing prices are relatively clear: First, the process of urbanization, the impact of the current fiscal and taxation system; and second, per capita The increase in income; Third, 1.8 billion red line of land; Fourth, less investment channels, the current investment in addition to stock is the house.

The process of urbanization will increase at a rate of 1% a year, and it will increase by 15 million. This includes the need for improvement and the transformation of various shanty towns. In March 2011, CPI increased by 5.2% year-on-year and continued to operate at high levels. Hot money began to flow in. The United States printed money and followed it all over the world. They printed more and more. If you print less, you will lose money. Therefore, we can only print more to make up for the cheaper prices abroad. Liu Mingkang, Chairman of China Banking Regulatory Commission, also talked about this topic at this year's annual meeting. He believes that there will be a surplus of money in the next five to ten years.

In my opinion, the third- and fourth-tier cities are facing relatively good opportunities for development. In the past ten years, the average annual increase in the country is about 44%, and the average annual increase in house prices is about 13.2%. This figure has a very subtle relationship. If you look closely, you will find that land prices account for about 1/3 in 44%. The 13% increase in the average national housing price is caused by land prices. Therefore, all levels of government will deny the relationship between land prices and house prices. Judging from this figure, the conclusion is clearer. The reason why housing prices rise is because local governments are selling at high prices.

We believe that the factors supporting the real estate market will continue to exist for a long time along with China's economic development, and any short-term partial market adjustment or policy adjustment will not fundamentally shake it. The real estate market opportunities and challenges under the current new situation coexist. We have reason to believe that the Chinese real estate market will be healthier.

Prospects and Prospects of Real Estate Funds From an international perspective, the United States Real Estate Fund has experienced substantial growth in the last thirty years. The reason why it started in the 1980s was because there was no stable international environment before.

Currently, eight of the top ten international funds have entered the Chinese market, indicating that everyone is firmly optimistic about the Chinese market. The scale of the top ten funds has exceeded 30 billion, and the smallest companies have reached 200 billion. The real estate funds are inevitably in China.

Many domestic developers have set foot in the PE business. Many first-line developers have entered the market. There are currently only three listed real estate company-owned PE brands and they are Rongsheng, Gemdale and Forte.

The advantages of real estate funds: First, the scale of funds is large, the second is long-term, and the third is low risk.

In terms of the financing methods of real estate companies, the corporate bonds initiated by the People's Bank of China are made by the Securities Regulatory Commission. Everyone must cherish strategic investors. If you can't find a partner in these two years, it is very difficult to grow up fast.

Real estate funds can share risks for housing companies, expand the scale of enterprises, and improve efficiency and management. Since the real estate fund is generally a share, it is also possible to adjust the reporting structure of the housing enterprises and drastically reduce the debt ratio.

Real estate private equity people-oriented real estate private equity industry for talent requirements, people-oriented, focusing on control. Only in this way can we invest and manage well.

High-quality fund management teams can be divided into two categories. One is the team responsible for real estate business in large financial institutions, and the other is the team responsible for fund business in large real estate companies.

Investors' operations concern Taifa Fund's investment projects including affordable housing and second- and third-tier cities. In terms of system, team, and management methods, we have a very large number of control systems. There are many criteria for how to choose a project. If you are interested in this piece, we can communicate one by one later.

We operate through four latitudes and four modules in actual management. We hope that the cooperation with investors can take longer. Of course, this is not based on our will. We hope to establish the scale of the industry quickly with investment partners in the future. As a company that focuses on funds, the main tool is our management and control system. Investors and invested companies are also our goals.

Funeral Fittings

Zhejiang Xinglong Packing Co., Ltd , http://www.green-casket.com

This entry was posted in on