摘要房地产行业是我国国民经济重要组成部分，二十世纪以来，房地产以来投资热、开放热、建设热的"三热"发展速度使其高于其他产业，使得我国房地产业飞速增长。近几年，随着国家政策的宏观调控，推出相应的“限购令”等措施，各地区的商业银行都开始减少对房地产的支持。这样一来，迫使房地产行业的外源融资渠道紧缩，导致房地产行业不得不面临被迫转型的趋势。所以，当前房地产如何保持自己的可持续发展的过程中，又能实现转型成为重要讨论的课题。本文以万科地产为例，通过分析万科地产由“重”转“轻”的成功案例，对万科地产转型轻资产运营效果进行评估，从而总结出同行业应该如何选择适用的模式来保证自己的核心竞争力，促进房地产行业能稳定、健康发展。关键词：商业地产运营模式战略转型轻资产重资产AbstractTherealestateindustryisanimportantpartofChina'snationaleconomy.Sincethe20thcentury,thedevelopmentspeedofinvestment,heat,andconstructionofthe"threeheats"hasmadeithigherthanotherindustries,makingChina'srealestateindustrygrowrapidly.Inrecentyears,withthemacro-controlofnationalpolicies,theintroductionofcorresponding“restrictionorders”andothermeasures,commercialbanksinvariousregionshavebeguntoreducesupportforrealestate.Asaresult,theexternalfinancingchanneloftherealestateindustryhasbeentightened,whichhascausedtherealestateindustrytofaceatransformationtrend.Therefore,howtorealizethetransformationofcurrentrealestateintheprocessofsustainabledevelopmenthasbecomeanimportanttopicofdiscussion.ThisarticletakesVankeRealEstateasanexampletoanalyzethesuccessfuloperationofVankeRealEstate'stransformationoflightassetsbyanalyzingthesuccessstoriesofVankeRealEstatefrom“heavy”to“light”,thussummarizinghowtheindustryshouldchoosetheapplicablemodeltoensureitscore.Competitiveness,promotethestableandhealthydevelopmentoftherealestateindustry.Keywords:commercialrealestateoperationmodel,strategictransformation,lightassets,heavyassets目录一、绪论..................................................................1（一）选题背景............................................................1（二）研究意义............................................................1（三）研究内容和方法.....................................................2二、相关理论概述..........................................................3（一）重资产理论..........................................................3（二）轻资产理论..........................................................3三、商业地产转型的背景....................................................4（一）我国商业地产的整体发展..............................................4（二）商业地产轻资产运营的动因...........................................4（三）商业地产轻资产的实施路径...........................................6四、万科地产转型轻资产运营模式的案例分析.................................7（一）万科地产简介.......................................................7（二）万科地产重资产运营模式.............................................7（三）万科地产轻资产运营模式现状.........................................7（四）万科地产转型轻资产运营模式的优势...................................9（五）万科地产转型轻资产运营效果评估....................................11五、结论以及启示........................................................13（一）结论...............................................................13（二）启示...............................................................14参考文献............................................
