房地产投资信托公司

In addition, I give to my Executors full power to invest and reinvest the estate funds and assets in any kind of property, real, personal or mixed, and every kind of investment, specifically including, but not by way of limitation, corporate obligations of every kind and stocks, preferred or common, and interests in investment trusts and shares in investment companies, and any common trust fund administered by any corporate executor hereunder, which men of prudent discretion and intelligence acquire for their own account.

此外，我给我的遗嘱执行人充分权力的投资和再投资房地产的资金和资产在任何种类的财产，真正的，个人或混合，以及每一种投资，特别是包括，但不限制的方式，企业承担的义务每一种与股票，优先股或普通，和利益的投资信托基金和股票投资公司，以及任何共同信托基金管理的任何公司执行人，这些男子的谨慎判断和掌握的情报为自己的帐户。

Dr Michael Zhuang introduction of listed companies and real estate investment trust in the management differs in some listed companies are a lot of decision-making power is subject to his Council and the Board of Trustees of the control; and real estate management of the Trust is subject to the national laws and corporate charter, as well as some of the rules of trust and investment restrictions.

迈克尔庄博士介绍，上市公司和房地产投资信托基金的管理不同的一些上市公司有很多的决策权是受他的理事会和董事会的控制和管理的房地产信托是受国家法律和公司章程，以及一些规则的信任和投资的限制。

At present, the enterprise can be financed through bank loans, there are alternative channels of distribution trust schemes, the territory of a company is listed, issue corporate bonds, pawn, REITs, overseas listing, but these financing channels are also not very satisfactory, higher financing costs, more restrictions.

目前，企业可通过银行贷款融资，有选择分销渠道信托计划，境内上市公司，发行公司债券，典当，房地产投资信托基金，海外上市，但这些融资渠道也不是很满意，高融资成本，更多的限制。

According to the form of organization,PElTs is divided into company one and contract one.

依据组织形式，房地产投资信托可以分为公司型与契约型。

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。

This is the Beijing Investment Following the "Beijing CBD land development project funding trust scheme" after another financial innovation products, the company is also China's relevant laws in the current environment, introduced and developed countries are most similar to real estate investment trust financial products .

这是继北京投资的&北京CBD土地开发项目资金信托计划&之后的另一个金融创新产品，该公司还正在中国的有关法律在当前的环境下，介绍了与发达国家是最相似的房地产投资信托基金的金融产品。

At last,we get the conclusion we must mainly develop two innovative mode of Real-estate financing method: fund trust and investment trust

本文重点分析了两种重要的房地产创新融资方式：房地产资金信托和房地产投资基金，两种方式分别从债权融资和股权融资两条路径丰富了房地产公司可供选择的优化资本结构的办法和措施。

Other catalysts could be a possible relaunch of Wharf's Diamond real-estate investment trust and a restructuring of the company's communications, media and entertainment segments, they add.

能推动该股上扬的其他动力还包括：九龙仓集团有可能重新启动其钻石房地产投资信托基金以及该公司的通讯、媒体和娱乐业务有可能重组。

China Banking Regulatory Commission to expand the direction of bond-based REITs, mainly by banks and trust companies to issue the existing inter-agency market.

中国银行业监督管理委员会，扩大债券方向的房地产投资信托基金主要由银行和信托公司，发行的现有机构间市场。

Economists have commented that, REITs can only be the introduction of high-quality real estate projects to the icing on the cake, but for the plight of funds into real estate companies, the long term or "palliatives."

经济学家评论说，房地产投资信托基金只能是高品质的房地产项目介绍了关于锦上添花，但对资金流入房地产公司，长期或&治标不治本的困境。&

On the other hand, the more important thing is because the urban housing is a kind of heterogeneity products.

另一方面，更重要的是由于城市住房是一种异质性产品。

Climate histogram is the fall that collects place measure calm value, cent serves as cross axle for a few equal interval, the area that the frequency that the value appears according to place is accumulated and becomes will be determined inside each interval, discharge the graph that rise with post, also be called histogram.

气候直方图是将所收集的降水量测定值，分为几个相等的区间作为横轴，并将各区间内所测定值依所出现的次数累积而成的面积，用柱子排起来的图形，也叫做柱状图。