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【In-depth reveal】The huge crisis hidden behind the "financial carnival" of mainland real estate!
Real estate, an important sector in the mainland's commercial landscape, has always been deeply rooted in the blood of Chinese, and owning a house of its own has been regarded by almost every Chinese as a rigid task.
Especially after the reform and opening up, the real estate industry has developed at an alarming speed. The government, enterprises and even the people are all engaged in this capital feast, and real estate investment has gradually become an investment field that Chinese people are eager to pursue. Real estate investment data shows that real estate has always occupied the forefront of Chinese investment projects.
However, as the market gradually saturated, the hidden dangers behind this financial feast gradually surfaced.
In particular, the impact of the epidemic has caused a huge impact on mainland real estate enterprises. Evergrande Real Estate, the largest real estate company on the mainland, was not spared the crisis.
As early as June 2022, Evergrande Real Estate filed for bankruptcy. According to statistics, the debt of Evergrande Group is as high as trillions of yuan, an astonishing figure that shocks countless people, it is equivalent to the total GDP of a developed city in a year.
However, Evergrande's debt is only a drop in the bucket in front of another group. The explicit liabilities of that group are as high as more than 60 trillion yuan, which is equivalent to 30 Evergrande!
This group is the biggest crisis hidden behind real estate - urban investment bonds!
What is the mysterious existence of urban investment bonds? First of all, we have to understand what kind of company it is. These urban investment groups are actually founded by local governments as local financing vehicles to obtain financial support from banks.
The city investment group borrows funds for infrastructure construction and other projects by pledging the land use rights to banks. But most of these projects are not profitable, and instead require government subsidies to keep them running.
Originally, as a financing means for cooperation between the government and enterprises, urban investment bonds should provide a driving force for social development. However, due to various reasons, the problem of urban investment bonds has gradually come to light. Many local governments blindly pursue borrowing for performance considerations, resulting in the accumulation of a large amount of debt.
The question of who will ultimately bear these debts remains open.
In recent years, with the impact of the epidemic, many urban investment groups have exposed debt crises. Some urban investment groups need to roll over the repayment of loans, but this practice is only a temporary cover-up, and the problem of urban investment bonds needs to be fundamentally solved. The state and banks have issued policies to support local governments in solving the problem of urban investment debt.
Behind the urban investment bond problem, we see a microcosm of economic development.
The state needs financial support for infrastructure construction and the development of emerging industries, and the economic construction of cities also requires a large amount of capital investment. However, how to avoid falling into the debt quagmire in the financing process requires the joint efforts of all parties.
The solution to the urban investment bond problem requires not only the guidance of the state, but also the positive response of local governments. From the perspective of public welfare enterprises, urban investment groups should contribute practical value to local development and people's happiness.
On the road of economic development today, keeping a clear head and avoiding falling into financial traps can ensure the sustainable development of society.
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【Get rid of the urban investment bond crisis and create a better future】
The outbreak of the urban investment bond problem has made us deeply aware of the deep-seated risks within the real estate industry. However, this should not lead to an unduly pessimistic view of real estate.
On the contrary, we can learn from it, seek practical reform solutions, get rid of the dilemma of the urban investment bond crisis, and jointly create a better future.
First of all, the government plays an important role in guiding real estate development. The government should promote the healthy development of the urban investment group through effective policy guidance. Encourage the Group to be more rational in project selection and pay attention to the sustainability and profitability of projects. At the same time, establish a strict risk management mechanism to avoid excessive reliance on debt financing.
Secondly, the city investment group itself also needs to carry out profound reflection and reform. The Group should pay more attention to the quality and efficiency of projects, avoid ostentatious projects, and invest funds in areas with real profit prospects. At the same time, strengthen internal management, improve the efficiency of capital use, reduce operating costs, so that the project can achieve breakeven.
In addition, financial institutions should also play an active role. When providing financing for urban investment groups, financial institutions should strictly review the feasibility of the project and avoid overburdening the debt burden on local governments.
At the same time, strengthen the risk assessment and monitoring of urban investment bonds, timely warning and countermeasures.
More importantly, it is necessary to cultivate the risk awareness of the whole society. While pursuing investment returns, investors should invest rationally and not blindly follow the trend. Not only that, the general public should also strengthen financial literacy education, recognize the impact that the urban investment bond problem may have on individuals and society, and make informed financial decisions.
To sum up, although the issue of urban investment bonds is a serious challenge, it is also an opportunity for reform. Through the joint efforts of the government, urban investment groups and financial institutions, we are expected to emerge from the crisis and achieve sustainable development of the real estate industry. Let us work together to create a better tomorrow for the prosperity of the city and the happiness of the people!
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