Abstract:
After more than ten years of unremitting exploration, China’s publicly-traded Real Estate Investment Trusts(REITs)
in the field of infrastructure pilot projects have been officially launched. At present, the REITs market has initially formed a
certain scale effect and demonstration effect, and its value in promoting the revitalization of existing assets, expanding effective
investment, practicing “houses are for living in and not for speculative investment”, optimizing asset allocation and serving the real
economy has gradually emerged. Unlike overseas mature markets, China’s REITs market has distinctive characteristics in terms of
service direction, development path, operation mode, system, and rules. It has explored a way to develop REITs that both follows
the laws of mature markets and adapts to China’s situation. Looking forward to the future, focusing on the implementation of the
spirit of the 20th National Congress of the Communist Party of China, REITs market construction should summarize the pilot
experience, learn from international best practices, fully consider China’s situation, adhere to the equal emphasis on development
and regulation, focus on optimizing the market system, improve the rules and regulations and regulatory arrangements, consolidate
the legal basis, and better serve the high-quality development of the economy.
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