信托投资

If you want to invest in real estate, but also hope to have relatively good liquidity, experts suggest trying to choose a similar real estate investment trust of new products.

如果你想投资房地产，但也希望有相对较好的流动性，专家建议试图选择一个类似的房地产投资信托基金的新产品。

Secondly, the tax structure differs and may not afford the same REIT benefits to investors.

第二，税务结构不同，可能支付不起同样的房地产投资信托带给投资的利益。

A unit trust is a professionally managed investment fund which pools your money with other investors with similar investment objectives.

单位信托公司是合并您的金钱与其它投资者以相似的投资目标和专业地处理的投资基金。

According to statistics, REITs main input is for office space and shopping centers, accounting for 45% of the total investment, residential 11%.

据统计，房地产投资信托基金的主要投入是对写字楼和购物中心，占45 ％的总投资，住宅11 ％。

In the United States, REITs main input is for office space and shopping centers, both the total investment of 45%, residential 11%.

在美国，房地产投资信托基金的主要投入是对写字楼和购物中心，无论是投资总额的45 ％，住宅11 ％。

Unfortunately, certain major investing institutions have "glass house" problems in arguing for better governance elsewhere; they would shudder, for example, at the thought of their own performance and fees being closely inspected by their own boards. But Jack Bogle of Vanguard fame, Chris Davis of Davis Advisors, and Bill Miller of Legg Mason are now offering leadership in getting CEOs to treat their owners properly. Pension funds, as well as other fiduciaries, will reap better investment returns in the future if they support these men.

不幸的是，某些大型的投资机构根本上存在着&玻璃屋&的问题，声称可以从其它地方着手加强企业治理，比如说，它们一想到董事会要来严密检视其绩效及管理费时，就感到惊惧不已，但先锋基金的Jack Bogle、Davis投顾的Chris Davis及Legg Mason的Bill Miller现在都站出来引导CEO朝向公平对待股东的路上迈进，而如果退休基金以及其它信托基金也能够一起站出来支持这群人，个人相信这些机构在未来一定可以得到更佳的投资报酬。

In these years,it has also been gradually introduced into some Asian countries and prospers there.

我国也可以考虑开展房地产投资信托基金，以解决房地产资金缺乏问题，并向投资者提供新的投资渠道。

It is understood that the Trust plans an annualized yield of 5%, higher than that of other investment products and has strong investment value.

据了解，该信托计划年收益率为5％，高于其他投资产品，并具有较强的投资价值。

The following factors, among others, could cause actual results and future events to differ materially from those set forth or contemplated in the forward-looking statements: defaults on or non-renewal of leases by tenants or renewal at lower-than-expected rent or failure to lease at all or on favorable terms, decreases in real estate values and impairment losses, increased interest rates and operating costs or greater-than-expected capital expenditures, our failure to obtain, renew or extend necessary financing, re-financing risks, risks related to our obligations in the event of certain defaults under co-investment ventures and other debt, risks related to debt and equity security financings, difficulties in identifying properties to acquire and in effecting acquisitions, our failure to successfully integrate acquired properties and operations, our failure to divest properties we have contracted to sell or to timely reinvest proceeds from any divestitures, our failure to contribute properties to our co-investment ventures, risks and uncertainties affecting property development, value-added conversions, redevelopment and construction (including construction delays, cost overruns, our inability to obtain necessary permits and public opposition to these activities), our failure to qualify and maintain our status as a real estate investment trust, risks related to our tax structuring, failure to maintain our current credit agency ratings or to comply with our debt covenants, environmental uncertainties, risks related to natural disasters, financial market fluctuations, changes in general economic conditions, global trade or in the real estate sector, inflation risks, changes in real estate and zoning laws, a continued or prolonged downturn in the U.S., California or global economy, risks related to doing business internationally and global expansion, risks of opening offices globally, risks of changing personnel and roles, losses in excess of our insurance coverage, unknown liabilities acquired in connection with acquired properties or otherwise and increases in real property tax rates.

以下因素可能会导致实际结果和未来事件与前瞻性陈述产生重大出入：承租人拖欠租金或者不续租；利率以及经营成本的提高；我们未能获得必要的外部融资；再融资的风险；与合资项目和其它债务发生特定违约时我方承担的义务有关的风险；与债务和股权融资有关的风险；确定拟收购的物业以及完成收购过程中遇到的困难；我们未能成功整合收购的物业和业务；我们未能剥离已经签约出售的物业或未能及时将剥离带来的收益再投资；影响物业开发和建设的风险和不确定性（包括建设延期、费用超支、我们无法获得项目建设所需的必要批准以及公众对项目开发建设的反对等）；我们无法获得或者维持作为房地产投资信托公司的资质；与我们的税收策划有关的风险；无法保持我们目前的信用评级；环保方面的不确定性；与自然灾害有关的风险；金融市场的波动；整体经济状况或者房地产业的变化；房地产和城市规划法律的调整；美国、加利福尼亚州或者全球经济的衰退；与开展国际业务和全球扩张有关的风险；保险范围之外的损失；与被收购的物业有关的或者其它未知责任以及房地产税率的提高等。我们的成功还依赖于总体经济走向，包括利率、所得税法、政府监管、立法、人口总数变化以及我们在10-K表中作的截至2009年12月31日的季度报告中&风险因素&和其它标题项下阐述的其它问题。

Moreover, this paper suggests that land reserve investment trusts of China should be the model of company and openning.

运用证券投资、信息经济学等理论，提出我国将建立的土地储备投资信托基金模式应是开放型公司基金。

I didn't watch TV last night, because it .

昨晚我没有看电视，因为电视机坏了。

Since this year, in a lot of villages of Beijing, TV of elevator liquid crystal was removed.

今年以来，在北京的很多小区里，电梯液晶电视被撤了下来。