中国出险房企化债路径全景扫描(上)—— 出险房企的生存困境与化债进展

中诚信国际
Sep 19

作者:蒋螣、黎小琳、彭俊贤引言我国房地产市场自1998年房改以来,经历了连续23年的单边上涨行情1,期间其在我国经济发展过程中发挥了重要作用,但同时亦积累了很高的金融杠杆风险;为及时控制行业风险、摆脱对土地财政的发展路径依赖,在“房住不炒”的监管背景下,2021年多项行业调控政策落地,大量依赖“高负债、高杠杆、高周转”发展模式的房企爆发流动性风险,并引发了我国债券市场发展至今最大的“出险潮”,...

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