我国房地产预售资金监管模式研究--毕业论文（设计）外文翻译.doc

毕业论文：外文翻译 学生姓名：张淮 定稿时间：2013-03-15毕业论文（设计）外文翻译 题目：学 院：工商管理学院专 业：工程管理专业班 级：工程0902学 号：0901600229学生姓名：张淮指导教师：蒋旻二一三 年 三 月外文翻译之一 Real estate of sale funds the regulatory body作者：R Coase D Northrop,国籍：United States出处：Real estate sale funds Regulatory Available online Year: 2008原文正文： Commercial housing presale is the main way of sale in real estatedevelopment of our country at presentAt the same time，commercial housing presale capital has become a real estate enterprise financing styleBecause of the trade relations is directly related to the Vital interests of customerIf we are not bound to effective supervision on the commercial housing presale and property presale，relevant take holders will take great riskBut mere appear some problems due to weak supervision on presale fund，which seriously disturbs the order of market of real estateTherefore， me problems of research on the above，especially in supervision level to me system regulation have positive realistic significanceEnhance Chinas supervision on the commercial housing presale capital，to establish supervision on me commercial housing presale capital in China unified monitor modeTo clear t11e object of the regulation and oversight responsibility supervision is currently permissions are urgent taskWe should in the setting of supervision on the commercial housing presale capital subject，unified supervision on the commercial housing presale capital model outline thorough research aspectContributing the improvement of t11e system of 1egal theory resources for the commodity trading fund supervisionReal estate development and sales as a supply of the peoples livelihoodIn construction process，it mentioned capital demands，1ong investment cycle，and the peoples livelihoodThe real estate market is a high-risk market，if out of effective regulatory，its cause of risk to spread to the other unpredictable industryIn recent years，the real estate market of our country overheating，overpriced，which brings a series of questions in front of peoplePeople expect governments promising system and take active measures to solve itIn fact，recently，a series of measures and ways the government issued is mounting the misconduct of real estate enterprisesImproving 1egal system of supervision and management on commercial housing trading fund has been incorporated into the government management field of vision for a long timeTherefore，we need to carefully combed the government issued the concrete measures and implementation effect Emphasize the importance of commodity，house booking funds，and try hard on making commodity，house booking capital reasonable and legitimatingWe know that perfect presale fund supervision is of great significance，but how to argue it from institutional economics aspect appears to be more importantCurrently，China real estate is very buzz，even the house havent finishedAfter the developers earn money，they focus on the next target or go to buy land for me new development opportunity However，this effective implementation of the booking supervision system can checking this kind of undesirable momentum and constraint me market illegal deedsTherefore，what kind of booking capital constructing became our regulatory model t0 open out the primary problem? Supervisory organ supervised motives；ability；independence and accountability are the main part of regulatory modelThe content of the argumentation and enrichment is the necessary，condition of outline of this modelFor real estate enterprise regulation，some developed countries and regions supervision patterns and system design can provides reference and enlightenment for our housing marketThe problem is how to absorb these resources and how to take the essence and discard the dregsBecome one of our booking funds estab1ished regulatory models of me issueHence pointed out the booking funds regulatory problems and solve the problem，accelerate the current supervision systemTo Consistent with the regional features of this special supervision model become the main academic contributionsThe presale of commodity apartment is a act which the real estate enterprises pre-sale the house under construction to the buyers and the buyers prepays the deposit or purchase priceThe system for the pre-sale of commodity apartment initiated in Hong Kong of Our Country，as an important way of accelerating the relation of the capital and relieving buyers Pay pressure，it was launched，and quickly develop，and for many countries and regions have adoptedIn a certain period，the system of pre-sale commodity apartment for promoting Our commodity apartment sales，the industry，the development of financial and promoting Our commodity apartment sales，the industry，the development of financial and improving the peoples housing coditions were played all active rolehowever，as the system itself has some flaws，the rule of the relevant laws and regulatory problems，the number of disputes are constantly emergingAppear in reality，such as misappropriation of funds for pre-sale，false advertising，housing quality standard，extension submitted to other violations and fraud，legal value to make the fight judgments，the principal balance of the interests of all parties，as the real estate market continued healthy development of the road had to face a major issueThe resulting system of real estate sale also caused the retention of experts and scholars，the extensive public discussion and researchIn addition to this introduction and thanks，but is divided into five parts，the main contents are as follows：The first part introduces the system of real estate sale，Development and characteristicsReal estate sale transactions，as a special form of a statutory pre-conditions，the subject of the special pre-sale，the complexity of the legal relationship，strong state intervention and the greater the risk of such characteristicsThrough the analysis of the law ，clear regulatory supervision of the main selection and a sound theoretical foundation and standard. First of all, through the introduction to the concepts of supervision, clear regulatory supervision, management behavior of the government and its authorized body under the Legal Context especially different from the supervision of behavior in private between subjects; This does not preclude a non-regulatory body with the regulatory body supervision, to ensure the supporting role to play in the regulatory system.The second part，to the world and regional level on the real estate sale Lenient monitoring as a standard，pre-classified as a strict regulatory approach and a more relaxed regulatory approachRegulatory approach by these two representatives of national legislation in the description and analysis of the results，summed up the worth of valuable experience to learn fromSecondly, through a brief analysis of developed and advanced regulatory system, summed up the experience that we can learn that will help the choice of the regulatory body in China, positioning, and function to further improve.The third part，for the design of the system of real estate sale，real estate sale in the description of the status quo on the basis of analysis of the shortcomings of the existing system，there are pre-licensing conditions and market exit mechanism for the low vacancy on prefunding of poor supervision and management of the registration notice is not perfect， and the absence of advertising management and other real estate saleThe fourth part，from the practical and theoretical aspects of real estate sale system problems caused by defects in full consideration of pre-sale system，abolition of differences in the interests of the parties to the grounds and views on the abolition of the system real estate sale put forward their view that the abolition of the current system of real estate sale is premature，therefore，further improve the presale system is based 0n the current situation，we make the best choiceThe fifth part，put forward a sound system of the concept of real estate sale：first，improve the commercial sale of market access and exit the main system；second，improve the financing of real estate sale monitoring system；the third，a sound of prenotice of sale of real estate registration system；Fourth, establish and perfect the sale of real estate information disclosure system商品房预售资金监管机构作者： R科斯,D诺斯,国籍：美国出处：商品房预售资金监督管理 可在线 年份：2008中文译文：商品房预售是目前我国房地产开发中主要的销售方式。商品房预售资金也成为房地产企业的一种融资方式。由于在这种交易关系中直接涉及购房人的切身利益，如果不对商品房预售及预售资金加以有效的监管，势必会使购房者及相关利益主体承担巨大风险，同时严重扰乱房地产市场的秩序。因此对上述问题的研究，尤其是在资金监管层面上加以制度方面的规制，具有积极的现实意义。加强我国的商品房预售资金监管，构建符合我国国情的商品房预售资金统一监管模式，明确监管的对象、监管的权限和监管责任，是目前较为急迫的任务。我们应在商品房预售资金监管主体的设定以及统一商品房预售资金监管模式勾勒等方面加以深入的研究，为商品房交易资金监管法律制度的完善贡献理论资源。房地产的开发与销售作为民生的一项供给，在建设过程中资金需求量大、投资周期长，与百姓生活息息相关；房地产市场又是一个高风险的市场，如果脱离了有效的监管，其引发的风险会波及到其他不可预知的行业。近几年来，我国的房地产市场过热，房价过高，带来的一系列问题已经摆在了人们的面前，人们期待着各级政府采取积极有为的制度与措施加以解决。事实上，近期政府出台的一系列措施和办法都直指房地产企业的失当行为，完善商品房预售资金监管早已纳入政府管理的视野，为此需要我们认真地梳理政府出台的具体措施及实施的效果，论证加强政府监管房地产预售资金的必要性，力争使商品房预售资金规模的合理，合情，合法化。我们知道完善预售资金监管意义重大，但如何从制度经济学角度加以证成就显得更加重要。当前，我国房地产的现状就是房子还没有建好就卖得热火朝天，开发商迅速回笼了资金后，往往把重心立即移到下一个投资的热点，或去重新拿地进行新的开发获得更多的市场机会。预售资金监管制度完善或能够有效实施，都会很好的遏制住这种势头，约束市场主体的这种投机行为。那么构筑什么样的预售资金的监管模式就成为我们开放出来的首要问题。监督机构进行监管的动机、能力、独立性和责任能力是监管模式的主干部分，对其内容的论证和充实，是勾勒这种模式的必要条件。对于房地产企业的监管，一些发达国家和地区监管的模式和制度设计，可以为我国的房地产市场尤其是房地产预售资金的管理提供借鉴和启示，问题是我们如何吸收这些资源，如何去糟存精，成为我国的预售资金监管模式确立的问题之一。故对上述几个问题的深入总结和细致归纳，总结出我国在预售资金监管上的症结，从而对症下药，提出治愈此问题的拙见，加快实现对我国现行预售资金监管制度的完善，构建具有地域特点的特殊监管模式成为本文的主要学术贡献。商品房预售是指房地产开发企业将正在建设中的商品房预先出售给买受人，并由买受人支付定金或者房价款的行为。商品房预售制度起源于我国香港地区，作为房地产商融资和缓解购房者付款压力的一种重要途径，它一经推出，便迅速发展，并为许多国家和地区所采用。在一定时期内，商品房预售制度对于促进我国商品房销售，推动房地产业、金融业的的发展以及改善老百姓的住房条件等方面都起到了积极的作用。然而，由于该制度本身存在的一些缺陷、我国相关法律规制的不完善以及预售监管等方面的问题，使得由此引发的大量商品房纠纷不断涌现。面对现实中出现的如预售资金非法挪用、虚假广告、房屋质量不合格、延期交房等违规、欺诈行为，如何作出正确的法律价值判断，平衡各方主体的利益，成为了房地产市场继续健康发展道路上不得不面对的重大课题。由此而来的商品房预售制度的存废问题也引起了专家学者、各界人士的广泛探讨与研究。共分五个部分，主要内容如下：第一部分，介绍了商品房预售制度的产生、发展及其特征。商品房预售作为一种特殊的买卖交易形式，具有预售条件的法定性、预售标的的特殊性、法律关系的复杂性、较强的国家干预性以及较大的风险性等特征。通过分析法律,明确监管的主要选择和一个坚实的理论基础和标准。首先,通过介绍概念的监督,明确监管监督、管理行为的政府及其授权的身体在法律语境特别是不同行为的监督在私人主体之间;这并不妨碍一个非监管的身体与监管机构的监督,以确保支持角色扮演在监管系统。第二部分，以世界各国及地区对商品房预售监管宽严程度为标准，划分为严格的预售监管模式和较为宽松的监管模式。通过对这两种监管模式中代表国家立法成果的介绍和分析，总结出值得我国学习和借鉴的宝贵经验。其次,通过简要分析发达国家和先进的管理系统,总结了经验,我们可以学习,这将有助于监管机构的选择在中国,定位和功能进一步完善。第三部分，针对我国商品房预售的制度设计，在介绍我国商品房预售制度现状的基础上，剖析我国现有制度存在的缺陷，主要有预售许可条件偏低及市场退出机制的空缺、对预售资金的监管不力、预告登记的管理不够完善以及商品房预售广告管理缺位等。第四部分，从实践和理论两个方面阐述我国商品房预售制度的缺陷所引发的问题，充分考虑商品房预售制度存废分歧中利益各方的理由和意见，对商品房预售制度的存废提出自己的观点，认为目前全面取消商品房预售制度时机还不成熟，因此，进一步完善商品房预售制度是我们根据当前形势做出的最好选择。第五部分，提出完善我国商品房预售制度的构想：第一，完善我国商品房预售主体的市场准入及退出制度；第二，完善我国商品房预售资金的监管制度；第三，健全我国预售商品房的预告登记制度：第四，建立、健全我国商品房预售的信息披露制度外文翻译之二Sale of real estate funds作者：Posner 国籍：United States出处：INTERNATIONAL REAL ESTATE REVIEW 2000 Vol. 3 No. 1: pp. 93 - 108原文正文：Pre-sale Activities in Hong KongIn many Asian countries, developers are allowed to sell residential units of their development projects prior to the completion. Buyers of the property will begin to make payments immediately after signing the purchase contract. This method allows buyers to secure the right to purchase a property and possess ownership upon making the final payments (usually at the time the building is completed), thus reducing the uncertainty on the availability and the price level of future properties. On the other hand, developers will be able to receive income prior to the completion of the project, thus reducing the risks associated with the long investment horizon of the property development.The rules and regulations governing the pre-sale activities vary among Asian countries. In some places, pre-sale begins before construction is actually started. Developers can decide whether to continue or to terminate the development project based on the number of buyers in the pre-sale. While in other countries (such as Hong Kong), pre-sale is allowed only when the development is in progress or is almost completed.In Hong Kong, developers need to obtain consent of pre-sale before they can conduct a pre-sale. The consent of pre-sale is usually granted 20 months before the estimated date of completion. Within six months after obtaining permission for sale, a developer can start selling the units through internal sales and/or public sales. Although regulations change over time, in general developers are required to put on to the market no less than a certain percentage (say 20%) of the units approved for presale in each batch of public sale. Hong Kong developers normally offer numerous payment options to buyers. The down payment of a flat can range from 10% to 100% of the flats purchase price.The existence of pre-sale offers developers an alternative source of financing their projects. The source of financing is normally quite important. This is true because, depending on the sizes and backgrounds of the developers, long- or short-term construction loans can be very small and limited, if available. In addition, the risk of holding completed units is effectively reduced through presales. This is especially important in cities with many large-scale developments (such as Hong Kong), where the development of one project will create a one-time substantial increase in supply in the residential market. The purpose of this paper is to examine another important aspect of the presale system. That is, developers can actually use the pre-sale system as an information-gathering tool. To start a development process, because of construction lag, developers will have to estimate the future demand to make a construction decision today. In Hong Kong and many Asian countries where large-scale developments are common, the forecasted demand level is particularly important in decision making as the development phase (and hence the construction lag) will normally be longer than in cities in other regions (such as North America or Europe).It is convincing to argue that the pre-sale system can serve as an information gathering system for developers. In a large development with many phases, developers will have the freedom to decide the timing of the phases of the project. In other words, a developer can launch a pre-sale, and if the result is good, the developer can speed up her/his development plan. (This means an increase in supply in the market.) If the pre-sale result is not as good as the developer originally expected, the developer could revise the estimate of future demand and slow down the development process. (This means a decrease in supply in the market.) A similar argument can be applied to developments of relatively small scale. Even if there is only one development phase, the developer can still control the speed of the construction. In other words, developers of smaller projects can still use the trial-sale information to adjust the speed of supply. Asian real estate markets are known for their high vacancy rates and long lasting real estate cycles. To give a few examples, table 1 and table 2 of Lai and Wang (1999) illustrate the volatile patterns of the price movement and new units supplied in Hong Kong during the 1973-1997 period. The popular press also notes that the price level of Hong Kong properties in 2001 is about 50% to 60% lower than the price level in 1997. Similarly, the popular press reports that the vacancy rate of residential units in Taiwan is around 10%, a rate much higher than that observed in the United States. The price and volume movements in some China cities (such as Shanghai) are believed to be even more volatile than in Taiwan and Hong Kong.With the pre-sale system as an information-gathering tool, this paper shows that development volatility should be amplified if developers are overconfident about their own estimates of the market demand. In other words, the paper attempts to analyze a unique institutional feature in Asian real estate markets to provide one more possible explanation for the long standing puzzle on real estate over-supply and cycle. of commercial housing system is originated in Hong Kong，and as an Important means m real estate development，capital financing，and transaction， it has became a major way in commercial housing selling， along with the prosperity and development of Mainland real estate marketIn near tens of years，the development and improvement of commercial housing presale system has taken a11 active role in prompting real estate marketThis presale system can not only increase the capital using efficiency but also lower the housing price. In some senses，it is bene6cial for both housing developers and consumers，and thus，it became a main sale model in our real estate marketHowever，as pre-sale is a forward transaction，the future house is just a model in design sketch when consumer pay for it，and the buyer even can not foresee whether to get the contractual subject or not for information unbalance Moreover， some real estate developers cheat buyers with glossy； false，and misleading information，and violate buildersbenefits for advanced payments abused using，and make banks affording high risk as they got credit founds by ripthus，it is necessary to supervise the presale of commercial housing，in order to protect the buyerslegal rights and to overcome the deficiencies of pre-sale system and kinds of risks of real estate marketAs the advanced payment funds involves the real estate developers core benefits，the effective management on advanced payment funds could restrict and guide the developers actions，and therefore，the supervision on advanced payment funds is considered as the nucleus of presale system supervisionThis paper discusses the risks of future house presale system by analyzing the presale commercial housing system theories，and discusses the necessity and cost of supervision from the angles of legal philosophy and legal ec