| 摘要: |
| 2022年新国发2号文件明确提出，将防范和化解地方政府债务风险作为保障国家经济安全的重要工作。本文基于贵州省地方政府债务风险现状及基础设施公募REITs在中国的发展情况，探究基础设施公募REITs作为权益型融资渠道，通过降低政府杠杆率在传统融资渠道模式困境中实现金融创新，并向市场注入经济发展动能，从而防范和化解地方政府债务风险。针对公募REITs推行过程中的项目筛选难度大、专业水平人才缺乏、治理机制不健全、政策仍处于探索阶段等问题，提出做好优质项目的储备和孵化、公募REITs智库组建等应对措施。本文为化解地方政府债务风险提供了有益参考，对稳步推进基础设施公募REITs后续发展具有一定的借鉴意义。 |
| 关键词: 公募REITs；基础设施；杠杆率；债务风险 |
| DOI： |
| 分类号:F832.51 |
| 基金项目:基金项目：教育部产学合作协同育人课题“新文科背景下《资产证券化》微视频翻转课堂教学模式研究”（220501369284620）；贵州省高校人文社会科学研究项目“贵州数字金融应用与发展”（2022JD005）。 |
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| Infrastructure Public REITs and Local Government Debt Risk Mitigation |
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PAN Wen-fu1,2，LI Ting1，ZHANG Ru-xing11,2
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1.（1.School of Accounting，Guizhou University of Finance and Economics;2.Institute of Industrial Economics of CASS）
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| Abstract: |
| The new National Development Document No.2 of 2022 clearly puts forward the prevention and resolution of local government debt risk as an important task to safeguard national economic security.Based on the current situation of local government debt risk in Guizhou Province and the development of infrastructure public REITs in China，this paper explores infrastructure public REITs as an equity-based financing channel to achieve financial innovation by reducing government leverage in the traditional financing channel model dilemma and injecting economic development momentum into the market，thus preventing and resolving local government debt risk.In response to the problems in the implementation of public REITs，such as the difficulty of project screening，the lack of professional level talents，the unsound governance mechanism，and the policy is still in the exploration stage，the article proposes countermeasures such as the reserve and incubation of high quality projects and the formation of a think tank for public REITs.This article provides useful references for resolving local government debt risks and has certain implications for steadily promoting the subsequent development of infrastructure public REITs. |
| Key words: Public REITs;Infrastructure;Leverage;Debt Risk |
