供给侧视角下的地产良性循环探索

Examining Real Estate from a Supply-Side Perspective

近年来,叠加疫情冲击、预期转弱等因素,房地产高速发展中的一些问题加速暴露,部分房企陷入流动性危机。国家提出促进房地产行业良性循环,积极倡导包括银行、AMC、优质房企在内的各类机构参与纾困保供、不良处置。本文从供给侧视角,探讨借助AMC不良处置经验,引入战略投资人,增加金融和管理要素资源供给,化解风险达成利益相关各方诉求,发挥资产证券化优势实现退出,助力地产风险项目激活重生。

Problems stemming from the rapid development of the real estate sector have been exposed in the wake of the Covid pandemic and amid weaker expectations for the economy. Some real estate companies are currently experiencing a liquidity crisis. The state has called for the participation of a broad group of institutions, including banks and asset management companies, in an assistance program for the relief of highquality real estate enterprises through the disposal of non-performing assets.This paper uses a supply-side perspective to assess the potential for the introduction of strategic investors with experience in the disposal of non-performing assets along with an increase in the supply of financial and management resources. The goal is to take advantage of asset securitization to resolve risks and address the requirements of all stakeholders.