Abstract: Abstract： How to sidestep the REIT risk has greatly been concerned by all the theoreticians and practical businessmen. The temporary measures issued by banking supervisory authorities disclose all kinds of insufficiencies in controlling or supervising the REIT risk. For the construction of the Chinese mechanism of sidestepping the REIT risk, both exterior and interior should be paid an attention to, that is, exteriorly, forming a perfect law system of sidestepping the REIT risk, and establishing an effective system of supervision and a reasonable revenue system; and, interiorly, clarifying the REIT status of the independent legal entity, and improving the systems of the inner control and the risk earlywarning.

Key words: risk, sidestepping mechanism, Key words： REIT