住宅金融

我国住宅金融风险的转移方式

Instruments for Shifting the Risks of China 's Housing Finance

中美住宅金融创新过度与不足的对比

Comparison of Excess and Deficiency of Innovation in Housing Finance between America and China

我国推行住房抵押贷款证券化（MBS）具有一系列的现实意义：发展住宅金融体系，实现公共政策目标；

The implementation of MBS has many practical meanings : to innovate residential mortgage financing and to achieve public policy goal ;

而发行MBS则是实现住宅金融直接化的一项重要措施，而且发行MBS对商业银行和广大投资者还有更多其他的利益。

The issuance of MBS is one kind of the securitization , and it can bring many other benefits to commercial banks and MBS investors .

住宅金融周期性风险的政府干预化解：原理、机制与对策

Governmental Interference of Residential Financial Periodical Risk Principle 、 Mechanism and Countermeasures

政策性住宅金融是一个特殊的金融领域。

Special FINANCIAL PHFS is a special financial area .

我国住宅金融及抵押银行债券研究

China 's Housing Financing and Mortgage Bank Bonds Research

本文的主要研究对象是狭义的住宅金融市场。

The main research object of this thesis is the narrow housing finance market .

住宅金融及其证券化

Housing Finance and Its Application

住宅金融市场有狭义的和广义的两种定义。

The housing finance market can be divided into two parts : narrow sense and broad sense .

而在国内，住宅金融是在我国住房制度改革后近二十年才开始发展的。

But it began to develop within two decades in our country after the reforming of housing system .

美国住宅金融业的迅速发展，主要归功于个人住房抵押贷款风险转移机制的建立。

The rapid development of American residential finance industry is mainly owing to the establishment of risk-transferring housing mortgage loan .

对这两者的研究有利于对我国住宅金融存在问题的深层次了解。随后对我国住宅金融的主体业务&房地产金融抵押贷款现状进行了分析。

Then it analyzes the actuality of real estate finance mortgage loan , which is a principal part of Chinese housing finance .

这部分即进入了本文的重点：对商业性住宅金融的考察。发展商业性住宅金融离不开开展住宅金融业务的金融机构和住宅金融的融资体系。

Growth of commercial housing finance cannot do without financial institution that handles housing finance business and financing system for housing finance .

而我国已初步建立起政策性金融和商业性金融并存的住宅金融体系。

But our country has initially established the housing financial system , in which the policy finance and the commercial finance have coexisted .

在住宅金融方面，针对住宅建设和住宅消费两个方面的融资困境，对住宅消费金融融资模式和住宅建设融资分别提出了对策措施。

On the aspect of house finance , against the puzzle dom of house construction finance and house consumption finance relevant countermeasures are advanced respectively .

住房抵押贷款证券化有助于促进中国住宅金融的发展，促进我国住房金融资金的良性循环，培育房地产消费市场，符合国家对新的经济增长点的战略选择。

In China , MBS will contribute to the development of house finance , the revolving of house capital and the development of house market .

狭义的住宅金融市场是指银行以居民个人或家庭为对象、以住宅抵押贷款为中心的融资、结算等各种金融活动；

The narrow one means the financing and settlement activities based on the object of individual residence or family , and the focus of housing mortgage .

广义的住宅金融市场包括银行以住宅抵押贷款为中心的金融活动及其带动的相关的住宅融资活动，如住宅经营、开发建设等融资活动。

However , the broad one means the financing activities based on housing mortgage and other related financing activities , such as housing operation , development and construction .

从理论和实践两方面研究政策性住宅金融对推动我国住宅业发展，实现国家经济增长、社会文明与进步都具有现实意义。

It has real meaning for studying theory and practice of PHFS , its role in development of housing industry , and promoting economic growth of the country , civilization and progress of the society .

将住宅金融和政府住宅政策引入模型，使之由评价住宅品质扩展为分析住宅市场现状并预测其发展前景，是有创意的应用突破。

An important idea , introducing the residential loan and the governmental residential policies into the CSI model , was proposed to expand its use from evaluating housing to analyzing housing market and forecasting its prospect .

住宅金融周期性风险是与宏观经济周期密切联系的一种系统风险。它对各国的金融乃至经济发展产生了极大的负面影响。

The periodical risk of residential finance is a kind of systemic risk , it has close contaction with macroscopical economic cycle , and has produced great negative effects on finance and even the whole economic development of various countries .

由于将住宅金融措施和政府的住宅政策引入用户满意度模型，此模型的应用范围已由分析住户对住宅的满意度扩展到研究住宅市场的活力问题。

This paper creatively introduces the residential financial measures and the governmental residential policies into the CSI ( customer satisfaction index ) model so as to extend its use from analyzing customer satisfaction for housings to studying the activity of the housing market .

经济学家们表示，成屋销售量的增加，对住宅和金融市场是一个积极信号，但并非住宅市场即将好转的明证。

Economists said that the rise was a positive indication for housing and the financial markets but that it was not clear evidence that residential real estate was about to improve .

住宅政策性金融体系的建立对优化住房市场资源配置，提高整个金融业的效率和稳定社会有积极影响。

The establishment of housing policy-based financial system will help optimize the allocation of housing , raise finance efficiency and social stability .

当客观环境发生变化，政府、政策和住宅政策性金融机构应随之改变，及时调整住宅政策性金融的职能和业务范围或在某些业务适时退出。

However , when the objective environment changes , housing policy finance should be change with it , or withdrew from some business unneeded .

在最后一章里提出了政府应加强对土地市场的调控，小城镇小康住宅建设的金融支持及小城镇住房建设的税费调节。

In the last chapter , the author claimed that the government should impose their control on the market of land , finance support and should adjust the tax .

在瑞士，情况差不多相反，要缴纳资本利得税的是出售私人住宅，而不是金融市场交易（除非是职业交易员操作的交易）。

In Switzerland , the reverse more or less applies , with private residences , but not financial market deals ( by other than professional traders ) being subject to capital gains tax .

该模型不仅可以用来确定住户满意度指数，还在估计住宅市场潜在需求和评价住宅金融和住宅政策上有很大用途。

The model can be used to determine the household satisfaction index , to estimate the potential capacity of the housing market , and to evaluate housing finances and housing policies .

这种新型的融资方式改变了传统的金融中介的方法，开辟了市场融资的新途径，对于改善银行的流动性，扩大住宅资金来源，推动住宅产业和住房金融的快速发展作出了重大贡献。

It has changed the traditional financial medium , and opened up a new way for market finance . This new type plays an important role in economic development , which improves the fluidity of banks , and promotes the development of housing industry and housing finance .