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1、 北京联合大学毕业论文外文原文及译文题目： 新形势下房地产企业融资创新性分析 专业： 金融学 指导教师： 赵凤云 一、 外文原文The Research on Financing Channels Innovation in Chinese Real Estate IndustryAccording to the public information，the increasing rate in real estate investment has obviously exceeded the fixed assets investmentBecause real estate investm
2、ent account for over 20 percent in the aggregate fixed assets investment in China，real estate industry has driven the society investment and played more and more important role in Chinese economyBank loans to the industry have ascended gradually since 1998The loan volume has been attained 6657 billi
3、on yuan in 2009，32 times as much as that in 1998 At the same timelpersonal house mortgagebacked loans has been increase dramaticallyIn last 6 years，the rate of these loans to total personal consuming loans is about 7597 percent.Chinese Current Status of House Financing ChannelsFinancing channels of
4、Chinese real estate enterprises are mainly focused on Bank creditOther channels like IPO，entrust，Bonds and special funds to obtain capital are of quite less proportionHouse mortgagebacked loans came into being in 1998Before that，the money users were real estate companies.Generally，Chinese real estat
5、e industry gives priority to creditors rights financingThe financing structure shows unitary characteristicsBank Credit is Main Channel for Chinese Real Estate EnterprisesAccording to the operating process and capital chain figure of Chinese real estate market，we could find that bank loan has been r
6、unning through the whole process of land reservation，land transaction，development and saleCommercial banks are almost the only capital providers of all principals in Chinese rea1 estate marketReal estate trust fund become Chinas relatively active financing formOur country has experienced three years
7、 of industries into again after the reorganization, 2010 rapid development track of the real estate industry, to the end of the trust property 24.1 million yuan, has reached the total trust property than the total 2.82%, early mbm1260 million yuan, increase in 2010 grew nearly 110% real estate trust
8、s continue with higher speed growth, but the overall perspective, real estate trusts function is relatively single, real estate capital trust most is to provide plan, i.e. bridge loans mainly for commercial bank loans conditions did not reach the real estate project to provide an initial trust credi
9、t, these trust has no plan for basic portfolio investment function conversion function and duration.Chinas real estate financing problemsDevelopment fund relied on a bank loanThis dependency makes the real estate investment market risk and financing credit risk focused on commercial bank l according
10、 to statistics estimate, 80% of the land purchase and real estate development funds are directly or indirectly from the commercial bank credit l through housing consumption loan and real estate development loans, construction enterprise liquidity loan and land reserve loans, etc all forms of credit
11、assets concentrated, commercial Banks actually directly or indirectly under a real estate market operation of various links market risk and credit risk.Financial institutions exist management behavior irrational, not science, is not standard, etcBecause the real estate commercial bank universal cred
12、it as a fine assets vigorously develop, in business to produce the tendency of the eager, such as some commercial Banks to reduce customer the threshold level of qualifications assessment will examine formalities, simplify, will examine speed etc l also like in real estate loans issued in the proces
13、s, some commercial Banks to government guarantee and government intervention project optimistic blindly, even blind adored, and ignored these projects have risk. Be like again, at present a lot of real estate trusts is basically about the terms of reference bank loans to implementation, was largely
14、bank loans, and trust company in varieties of entrust loan monitoring, operation and management experience may not commercial Banks.The real estate industry financing channel innovation designDeveloping diversified real estate finance marketIn a mature real estate finance market, real estate develop
15、 and operation financing has not only the creditors rights financing and equity financing two basic forms, and in the creditors rights financing and equity financing outside the primary market, there are developed in the secondary market l securitization of secondary market, all kinds of financial i
16、nnovation produced emerge in endlessly of real estate finance tools, including investment fund, trust securities, stock index is such through various investors in l of real estate finance market financial asset securitization, the secondary market buys independently of the original focus on real est
17、ate credit agency market risk and credit risk effectively scattered throughout the financial market various investors.Real estate capital trust Instead of real estate trustsReal estate development is a long life cycle, high risk, capital-intensive industries, management intensive investment behavior
18、. Developing the enterprises equity financing conditions of the poor, equity financing means fail to play its full role. Thus preventing financial risks, firstly is open financial markets, let more private investment partly replace bank risk. Existing The future development direction of real estate
19、trusts for real estate development, should be the acquisition, buying and selling, leasing, administration and other links provided comprehensive financial services, adapt to the characteristics of real estate industry, providing effective financing and risk management.To strengthen the management o
20、f individual housing loanIndividual housing credit by the formation of the financial assets, are increasingly the commercial Banks should improve the pillar l personal housing loan management measures, regulate individual loan examination procedures and standards, promote the standardization of pers
21、onal housing loan business, and gradually establish and perfect personal credit registry system; To improve the personal housing loan guarantee system, speeding up improving housing loan guarantee measures to guarantee agencies, strengthen regulation and oversight, the business of standardization de
22、monstrative text guaranty contract, in order to improve the creditworthiness of residents individual housing loan to the bank, ensure personal housing loan recovery, effectively prevent loan risks.finally, to strengthen the individual customers credit review, timely do risk early-warning work.二、译文 中
23、国房地产业融资渠道的创新研究据公开资料显示，房地产开发投资增速明显快于固定资产投资。由于房地产投资在全社会固定资产投资中所占比重约20%。在中国的经济中，房地产业带动了社会投资并且发挥着更重要的作用。用于房地产开发的银行信贷自2000年起逐年上升，2009年扩大到6657亿，是2000年的3.2倍，与此同时，个人住房抵押贷款显著增长。几年来，个人住房贷款占个人消费贷款比高达75%97%。相比于00年，个人住房消费贷款增加了1.14万亿元，增长了26.64倍。我国目前房地产行业融资渠道分析我国房地产企业的融资渠道主要集中在银行信贷，其他金融方式如上市融资、信托融资、债券融资和基金融资等占比较小。
24、而在1998 年以前，银行房地产信贷的主要对象是房地产开发企业，1998年以后才扩展到个人住房消费信贷，可见我国房地产金融以债权融资为主，股权融资比例较小，融资格局较为单一。银行信贷是房地产金融的主渠道从我国房地产市场的运行过程及其资金链来看，房地产金融主要是由银行房地产信贷构成的，银行信贷贯穿于土地储备、交易、房地产开发和房产销售的整个过程。在我国的房地产市场上，商业银行的信贷几乎介入了房地产业运行的全过程，是我国房地产市场各种相关主体的主要资金提供者。房地产信托基金成为我国较活跃的融资形式我国信托业经历了3年的整顿后，再次步入了快速发展的轨道2010年底，投向房地产业的信托财产已达24.1
25、亿元，占全部信托财产总额的2.82%，比年初增加12.6亿元，增幅接近110%。2010年房地产信托继续以较高的速度增长，但总体上看，目前房地产信托功能较为单一，房地产资金信托计划大部分是提供“过桥贷款”，即主要为未达到商业银行贷款条件的房地产项目提供前期信托信贷，这些信托计划基本不具有组合投资功能和期限转换功能。我国房地产融资中存在的问题开发资金过多依赖银行贷款这种依赖使得房地产投资的市场风险和融资信用风险集中于商业银行。根据统计估算，80% 左右的土地购置和房地产开发资金都直接或间接地来自商业银行信贷。 通过住房消费贷款、房地产开发贷款、建筑企业流动性贷款和土地储备贷款等各种形式的信贷资金
26、集中，商业银行实际上直接或间接地承受了房地产市场运行中各个环节的市场风险和信用风险。金融机构存在经营行为不理性、不科学、不规范等问题由于商业银行普遍把房地产信贷作为一种“优良资产”大力发展，在经营业务上容易产生急功近利的倾向，比如有的商业银行降低客户资质等级评定的门坎，将审查手续简化，将审查速度加快等等。又如在发放房地产贷款过程中，有的商业银行对政府担保和政府干预项目盲目乐观，甚至盲目追捧，而忽视了这些项目所具有的风险性。再如，目前许多房地产信托基本上是参照银行贷款的有关条款来执行，在很大程度上是银行贷款的变种，而信托公司在委托贷款的监控、经营和管理经验方面可能还不如商业银行。房地产业融资渠道
27、创新设计大力发展多元化的房地产金融市场在成熟的房地产金融市场上，房地产开发和经营的融资不仅有债权融资和股权融资两种基本形式，而且在债权融资和股权融资一级市场以外，存在着发达的证券化二级市场。在这个二级市场上，各种金融创新产生了层出不穷的房地产金融工具，包括投资基金、信托证券、指数化证券等。正是通过各种投资者在房地产金融市场上对证券化金融资产的自主购买，二级市场把本来集中于房地产信贷机构的市场风险和信用风险有效地分散于整个金融市场的各种投资者。房地产资金信托转变为房地产信托房地产开发是周期长、风险高、资金密集型、管理密集型的投资行为。我国开发企业的股权融资情况极差，股权融资的手段未能充分发挥作用
28、。因此防范金融风险，首先在于开放金融市场，让更多的民间投资部分替代银行现有风险。未来房地产信托的发展方向应是为房地产开发、收购、买卖、租赁、管理等各环节提供全面的金融服务，适应房地产行业的特点，提供有效的资金融通和风险管理手段。加强对个人住房贷款的管理个人住房信贷所形成的金融资产，正在日渐成为各商业银行的支柱。要完善个人住房贷款管理办法，规范个人贷款审查的程序和标准，推行个人住房贷款业务的标准化，逐步建立并完善个人征信系统；要健全个人住房贷款担保制度，加快完善住房贷款担保办法，加强对担保机构的业务规范和监管，推行标准化的担保合同示范文本，以提高居民个人住房贷款的信用度，保障银行对个人住房贷款的
29、回收，有效地防范贷款风险。最后，要加强对个人客户的资信审查，及时做好风险预警工作。五分钟搞定5000字毕业论文外文翻译，你想要的工具都在这里!在科研过程中阅读翻译外文文献是一个非常重要的环节，许多领域高水平的文献都是外文文献，借鉴一些外文文献翻译的经验是非常必要的。由于特殊原因我翻译外文文献的机会比较多，慢慢地就发现了外文文献翻译过程中的三大利器：Google“翻译”频道、金山词霸（完整版本）和CNKI“翻译助手。具体操作过程如下： 1.先打开金山词霸自动取词功能，然后阅读文献； 2.遇到无法理解的长句时，可以交给Google处理，处理后的结果猛一看，不堪入目，可是经过大脑的再处理后句子的意思
30、基本就明了了； 3.如果通过Google仍然无法理解，感觉就是不同，那肯定是对其中某个“常用单词”理解有误，因为某些单词看似很简单，但是在文献中有特殊的意思，这时就可以通过CNKI的“翻译助手”来查询相关单词的意思，由于CNKI的单词意思都是来源与大量的文献，所以它的吻合率很高。 另外，在翻译过程中最好以“段落”或者“长句”作为翻译的基本单位，这样才不会造成“只见树木，不见森林”的误导。四大工具： 1、Google翻译： google，众所周知，谷歌里面的英文文献和资料还算是比较详实的。我利用它是这样的。一方面可以用它查询英文论文，当然这方面的帖子很多，大家可以搜索，在此不赘述。回到我自己说的
31、翻译上来。下面给大家举个例子来说明如何用吧比如说“电磁感应透明效应”这个词汇你不知道他怎么翻译，首先你可以在CNKI里查中文的，根据它们的关键词中英文对照来做，一般比较准确。 在此主要是说在google里怎么知道这个翻译意思。大家应该都有词典吧，按中国人的办法，把一个一个词分着查出来，敲到google里，你的这种翻译一般不太准，当然你需要验证是否准确了，这下看着吧，把你的那支离破碎的翻译在google里搜索，你能看到许多相关的文献或资料，大家都不是笨蛋，看看，也就能找到最精确的翻译了，纯西式的！我就是这么用的。 2、CNKI翻译： CNKI翻译助手，这个网站不需要介绍太多，可能有些人也知道的。
32、主要说说它的有点，你进去看看就能发现：搜索的肯定是专业词汇，而且它翻译结果下面有文章与之对应（因为它是CNKI检索提供的，它的翻译是从文献里抽出来的），很实用的一个网站。估计别的写文章的人不是傻子吧，它们的东西我们可以直接拿来用，当然省事了。网址告诉大家，有兴趣的进去看看，你们就会发现其乐无穷！还是很值得用的。 3、网路版金山词霸（不到1M）： 4、有道在线翻译：翻译时的速度：这里我谈的是电子版和打印版的翻译速度，按个人翻译速度看，打印版的快些，因为看电子版本一是费眼睛，二是如果我们用电脑，可能还经常时不时玩点游戏，或者整点别的，导致最终SPPEED变慢，再之电脑上一些词典（金山词霸等）在专业
33、翻译方面也不是特别好，所以翻译效果不佳。在此本人建议大家购买清华大学编写的好像是国防工业出版社的那本英汉科学技术词典，基本上挺好用。再加上网站如：google CNKI翻译助手，这样我们的翻译速度会提高不少。具体翻译时的一些技巧（主要是写论文和看论文方面） 大家大概都应预先清楚明白自己专业方向的国内牛人，在这里我强烈建议大家仔细看完这些头上长角的人物的中英文文章，这对你在专业方向的英文和中文互译水平提高有很大帮助。 我们大家最蹩脚的实质上是写英文论文，而非看英文论文，但话说回来我们最终提高还是要从下大工夫看英文论文开始。提到会看，我想它是有窍门的，个人总结如下： 1、把不同方面的论文分夹存放，
34、在看论文时，对论文必须做到看完后完全明白（你重视的论文）；懂得其某部分讲了什么（你需要参考的部分论文），在看明白这些论文的情况下，我们大家还得紧接着做的工作就是把论文中你觉得非常巧妙的表达写下来，或者是你论文或许能用到的表达摘记成本。这个本将是你以后的财富。你写论文时再也不会为了一些表达不符合西方表达模式而烦恼。你的论文也降低了被SCI或大牛刊物退稿的几率。不信，你可以试一试 2、把摘记的内容自己编写成检索，这个过程是我们对文章再回顾，而且是对你摘抄的经典妙笔进行梳理的重要阶段。你有了这个过程。写英文论文时，将会有一种信手拈来的感觉。许多文笔我们不需要自己再翻译了。当然前提是你梳理的非常细，而且中英文对照写的比较详细。 3、最后一点就是我们往大成修炼的阶段了，万事不是说成的，它是做出来的。写英文论文也就像我们小学时开始学写作文一样，你不练笔是肯定写不出好作品来的。所以在此我鼓励大家有时尝试着把自己的论文强迫自己写成英文的，一遍不行，可以再修改。最起码到最后你会很满意。呵呵，我想我是这么觉得的。