存续6单在审14单 沪市持有型不动产ABS市场初现雏形

Core Viewpoint - The Shanghai Stock Exchange (SSE) has initiated the development of a holding-type real estate Asset-Backed Securities (ABS) market, which currently has six products with a total custody scale of approximately 12.096 billion yuan, and 14 projects under review. This market is diversifying its underlying asset types, including highways, affordable rental housing, office buildings, and data centers, marking a new phase of growth in the sector [1]. Market Development - The holding-type real estate ABS market in Shanghai has shown steady growth and continuous improvement, with an increase in the number and scale of issuances, and a diversification of product types covering various fields such as affordable rental housing, data centers, and transportation infrastructure [1]. - The market has attracted a diverse range of investors, including bank wealth management, brokerage proprietary trading, and insurance asset management, leading to enhanced market liquidity and activity [1]. Information Disclosure - The core feature of holding-type real estate ABS is its "equity attribute," which emphasizes the importance of information disclosure. The SSE has been optimizing the disclosure system to provide comprehensive and objective information for investors [2]. - In addition to annual report disclosures, the introduction of "annual report summaries" focuses on operational and financial information that is of concern to investors, enhancing the effectiveness of information disclosure [2]. Investor Engagement - The SSE encourages original rights holders and plan managers to voluntarily disclose information relevant to investors' value judgments and decision-making, aiming to improve the effectiveness of information disclosure and foster a trustworthy market ecosystem for holding-type real estate ABS [3]. - Regular online and offline investor communication events are encouraged to discuss industry hotspots, policy changes, and market trends, providing a professional platform for interpretation and exchange [3]. - A feedback mechanism for investor opinions is proposed to address inquiries and suggestions promptly, creating a positive interaction cycle that enhances investor decision-making and market liquidity [3].