2025年8月22日恒大剧终，下一个巨雷：城投债？8月25日早上9点，恒大将被港交所摘牌退市。曾经4000亿港元市值的地产航母，跌到退市前不足22亿港元，蒸发超99%；身后是约2.4万亿元的债务黑洞。更可怕的是——那些被当成“白衣骑士”的地方城投，正在成“接盘侠”：托底地块、兜底信托、续建配套、零利息兑付……恒大完蛋后，城投债会不会成为下一个惊天巨雷？本期你将获得三链条看中国经济：房地产链—金融链—财政链如何相互牵扯、放大风险。三个典型案例：广州城投如何为恒大兜底、托底拿地、再被迫配建；贵州/遵义把银行贷款一展就是20年，“能展则展、能拖则拖”；呼和浩特城投回售惊魂，刚兑神话第一次真正摇晃。政策脉络速读：分税制→“四万亿”→去杠杆→“三道红线”→“保交楼”→平台“退役”与化债。一句话判断：“只救项目，不救公司；托底，不托市。” 风险被切成薄片，摊进未来几年慢慢化解。为什么这期很重要城投=地方政府的“超级信用卡”：修地铁、建园区、托底楼市都刷在它账上。体量远超一家房企：当隐性债务遇上回款下滑、土地财政降温，风险从金融问题变成全社会问题。与你的钱包直接相关：就业、信贷、公共服务、甚至你的房子与存款，都可能被这场“慢变量”影响。
No persons identified in this episode.
This episode hasn't been transcribed yet
Help us prioritize this episode for transcription by upvoting it.
Popular episodes get transcribed faster
Other recent transcribed episodes
Transcribed and ready to explore now
Trump $82 Million Bond Spree, Brazil Tariffs 'Too High,' More
16 Nov 2025
Bloomberg News Now
Ex-Fed Gov Resigned After Rules Violations, Trump Buys $82 Mil of Bonds, More
16 Nov 2025
Bloomberg News Now
THIS TRUMP INTERVIEW WAS INSANE!
16 Nov 2025
HasanAbi
Epstein Emails and Trump's Alleged Involvement
15 Nov 2025
Conspiracy Theories Exploring The Unseen
New Epstein Emails Directly Implicate Trump - H3 Show #211
15 Nov 2025
H3 Podcast
Trump Humiliates Himself on FOX as They Call Him Out
15 Nov 2025
IHIP News