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烏蘭察布翻譯公司關(guān)鍵字： operational risks. Operational risk is the process of real estate investment funds operating in the normal operation of the premise can not be accurately predicted because the factors that caused the earnings decline. Business risk is mainly selected by the project risk, size risk composition. Project selection risk is due to errors in selection of investment projects losses. If the smaller real estate investment funds, the project also will choose to work less, fund companies and fund management companies can concentrate on the job done. At the same time, small-scale real estate investment funds, will bring greater investment to the combination of the difficulty of operating risk is difficult to spread, once the project selection errors, may result in a fatal blow to the real estate investment funds; some the scale of real estate investment fund may be large, big room for investment, portfolio investment is conducive to risk diversification. But the downside is that large funds management brings to the difficulty of screening large number of projects to eleven. These venture capital funds itself as the scale of the risks, which we call "the scale of risk."(2) financial risk. Various risk factors combined result, the specific performance of the real estate business can be resolved the problem of insufficient capital investment can be recovered on schedule and generate acceptable margins; whether there will be a higher default risk, liquidity risk and duration the risk. To this end, the invested enterprises should establish a sound financial system, strengthen financial management, real estate investment fund company itself should be a sound financial system environmental risks. Environmental risk is due to the external environment arising from the uncertainty of the risk, mainly in the following two aspects: First, policy risk, because the local government or the central government's policy towards the real estate investment funds due to the impact on earnings. Second, legal risk, due to existing laws and regulations of the imperfect, weak enforcement of laws and law enforcement departments of real estate investment funds caused by the possibility of damage.4 development of real estate investment trust policy recommendations1, China's real estate investment trust, in theory, still blank, we must strengthen the theory of real estate investment research and exploration, and promote market-oriented policies. China and Japan on the status of the late 1980s is quite similar to the bank a lot of real estate capital flows, and many have become the bank's bad assets, to the bank's management has created a significant risk. That we should establish a system of real estate investment funds, improved real estate investment fund specific operations, reduce the pressure on banks.2, in terms of policy, establish a sound legal system to ensure and maintain the market's fair, just, open and transparent, real estate investment trust industry to promote healthy, rational manner. To establish a sound legal system, just issued only a single "Trust Law", "Investment Funds Law" is not enough. Must also be equipped with a number of related laws and regulations, such as the development of some of the special real estate investment trust management measures, such as investment channels, the proportion of investment restrictions, and so on. So that our real estate investment trust from the outset, the development of a more standardized form. In addition, the need to reform the current tax law, avoid double taxation, for its development to create a favorable tax environment.
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