【作者】 徐文杰；

【导师】 孙慧； 单思君；

【作者基本信息】 天津大学 ， 项目管理， 2011， 硕士

【摘要】 我国已进入老龄化社会,并且老龄人口呈现加速扩大趋势,但当前养老服务业还处于起步阶段,养老机构供给严重不足。新修订的保险法规定保险机构可投资不动产。养老产业需求刚性、与资本市场关联度较低、投资回收期长且受益均衡稳定等特征非常适合保险资金投资。本文采用参与式研究、定性深入访谈、问卷调查和定量数据分析等方法提出中国人寿集团投资养老地产的运作模式建议及盈利模式分析。中国人寿养老项目以包含基金管理层面和资产运营管理层面的两层管理架构为未来标准的运作模式。盈利模式以土地开发收入、房地产开发收入、物业增值收入、物业租金收入、配套服务收入及管理输出收入这六块收入为核心点。投资养老产业具有难得的资源优势和战略机遇,只要加强舆论宣导和市场培育、做好产品定位和项目选址、引入专业化管理、关注综合效益和长期利益、争取政府支持、主导行业标准制定,中国人寿养老项目一定会取得成功。更多还原

【Abstract】 China has entered the aging society, with the accelerated expansion trend of the aging population at present. Nevertheless the current pension services in China still in its infancy. The social welfare institutions, nursing homes and retirement communities group China pension agency. However the pension resources serious shortage of supply and high-end pension strongly demand.The revised insurance law requires insurance institutions can invest in real estate. Pension industry with the characteristic for possesses rigid demand, low correlation with the capital markets, long payback period investment and balance and stability benefit. Investment pension industry can avoid cyclical fluctuations in risk and capital market risk; effectively improve the level of insurance institutions asset liability matching. It is very suitable for insurance funds investment.This paper draws the conclusion from methods of participatory research, qualitative in-depth interviews, questionnaires and quantitative data analysis. It aims that advance the operating mode of China Life Insurance Group Pension Real Estate Investment and analysis of the profit model.The planning China Life Pension health projects with two-tier management structure for the future of the standard mode of operation, which is fund management level and asset operations and management level. This operation mode suitable for improve professional level of management, in order to with the relative flexibility of financing and attract professional management organization cooperation in operation management in the further.China Life Pension health projects target high-end market in the market positioning, with six area income as the core point, that is land development income, real estate income, value-added income property, property rental income, and income and management support services revenue.At present, unique investing resources and strategic opportunity in pension industry investment. The industry’s core competitiveness formed in products, capital, network, brand and access to opportunities in areas, for other industries difficult to go beyond. At the same time, the project with unique competitive advantage by itself contains advanced concepts, scientific orientation, one capabilities and international management. It will certain successful by given full play to its strengths, reasonable risk-averse, strengthen public advocacy and market cultivation, good product positioning and the project site, the introduction of professional management, concerned about the overall efficiency and long-term interests, fight for government support, the leading industry standards.更多还原