Recently, the persistent depreciation of RMB has driven up the cost of bond financing amongst the real estate enterprises and fell into "foreign exchange rate trap". The international capital market has been maintaining an extremely low interest rate since 2012, thus domestic financing has relatively high cost and difficulty. Under these circumstances, China's real estate enterprises have turned to the low cost capital in overseas market. However, it is worth noting that majority of the domestic real estate enterprises that issuing dollar bonds have not hedged against foreign currencies. Thus their ignorance towards risks needs to be immediately changed.