Chen Hongbin: Suggestions for Resolving Local Debt and Real Estate Link Debt

Recently, Li Chao, Chief Economist of Zheshang Securities, and Chen Hongbin, Chief Economist of Pengyang Fund, were guests on the "Observer Talk" program. This episode discussed the economic data for the third quarter. When it comes to resolving local debt and real estate link debt, Chen Hongbin believes that the paths to debt resolution are the same: first, we need to control the amount of existing debt; Secondly, a portion of the debt will eventually become perpetual debt; Thirdly, to resolve future public debt, interest rates must be lowered. Dealing with real estate debt, the first type is the impact of self owned housing on ordinary people, mainly the feeling of wealth; The second type is real estate speculation; The third type of guaranteed delivery is of utmost importance.