At present, China's real estate listed company asset-liability ratio of average is between [64% ~ 67% ], such a high asset-liability ratio has a great influence on the companies' financial performance. From the Angle of the debt financing structure, according to the reality of the current our country real estate listed companies, the empirical analysis of the results as follows: the listed company of real estate in China the most optimal short-term borrowing rate is between [17.8% ~ 24.9%], long-term borrowing rates and financial performance is not significant linear, quadratic and third power relation, ratio of house opens to booking a paragraph should be between [30.7% ~ 41.9% ], commercial credit rate should be controlled be-tween [0 ~ 42.8%], and at the same time, financial performance and corporate bond rates were positively correlated. Optimiza-tion of real estate debt financing structure of listed companies should, therefore, reasonable to coordinate the ratio of debt fi-nancing structure of each index, make full use of the mortgage policy adjust financing means, positive issue medium-term notes, the proper use of means of tax planning, set up to adapt to changes in the government macroeconomic regulation and control and the market mechanism of internal financing.%目前我国房地产上市公司资产负债率的均值介于[64%~67%]之间，如此高的资产负债率对公司财务绩效有很大的影响。从债务融资结构角度出发，结合当前我国房地产上市公司的实际，实证分析的结果为：我国房地产上市公司最优的短期借款率介于[17.8%~24.9%]之间，长期借款率与财务绩效并不存在显著的线性、二次、三次方关系，最优的房屋预售款率应介于[30.7%~41.9%]之间，商业信用率应控制在[0~42.8%]之间，同时，财务绩效与企业债券率呈正相关。因此，优化房地产上市公司债务融资结构应该合理协调债务融资结构中各个指标的比率，充分利用房贷政策及时调整融资手段、积极发行中期票据，适当运用税务筹划手段，建立适应政府宏观调控和市场变化的内部融资机制。
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