How many urban investment companies will have non-standard public opinion in 2023?
According to public data, since August last year, there have been more than 100 non-standard defaults of urban investment. It is also a record high in recent years, and the defaulting urban investment companies are mainly concentrated in some areas with weak financial strength and high debt pressure, which is what we often call high-risk areas.
If you are interested, you can check the relevant data online, of course, there are many areas that have defaulted very early, but many trust companies have been renewing. However, due to the previous real estate projects, some trust companies were affected by liquidity pressure, and they continued to move in the future, which led to risk exposure.
In recent years, the number of non-standard defaults has been rising, and the pressure on local debt is also further increasing. In October last year, many provinces issued special refinancing bonds to solve the debt problem, and the scale was almost 1About 5 trillion. From a regional point of view, there are basically a large proportion of weak economic regions, with nearly 200 billion in Guizhou alone.
However, everyone should be clear that the issuance of special refinancing bonds cannot solve all the debts of local ** at once, but is to reduce the pressure of local **. Let these debts continue to be issued, and replace high-cost debts with low-cost funds, so as to achieve the effect of exchanging time for space, and indirectly enhance the confidence of the market.
Therefore, the risks of urban investment bonds are generally controllable, but we still need to pay special attention to local risks. After all, even the political credit products of a provincial capital are still at risk. Therefore, investors, when choosing political and credit projects, they must choose those products with good economic regions and high levels, and the safety factor of such products is relatively high.
Therefore, our view has not changed, and political and credit projects still have very large investment value. But there must be selective investment, once again remind investors that when choosing political and credit products, you must not choose as casually as before, and you must consider it in multiple dimensions. If you have anything unclear, you can leave a message in the comment area, and we will reply to you as soon as possible.