Abstract:
China’s publicly-traded Real Estate Investment Trusts (REITs) were officially launched in April 2020, and the first
batch of projects was listed in June 2021. It is an important institutional innovation in the field of direct financing in China, and it
has gradually become an important measure to revitalize capital market assets, serve the real economy, and promote high-quality
economic development. On October 25, 2022, the Bond Department of Shenzhen Stock Exchange held a special symposium on
accelerating the normalization of the offering of infrastructure REITs, with 19 market participants in total. The meeting provided
a comprehensive view of the development of the infrastructure REITs market. This paper summarizes the pain points and difficult
problems encountered by market parties in the aspects of review and registration, issuance pricing, duration management, tax
treatment, and secondary market transactions, provides optimization opinions and suggestions, and provides a practical basis for
the further healthy and orderly development of China’s infrastructure REITs market.