【新华解读】推动市场扩围扩容 基础设施REITs常态化推荐发行再提速

Core Viewpoint - The National Development and Reform Commission (NDRC) has issued a notice to accelerate the regular application and recommendation of infrastructure Real Estate Investment Trusts (REITs), aiming to expand the market and promote new asset types [1][2]. Group 1: Current Market Status - As of the end of August, China has successfully listed 73 infrastructure REITs, with a total issuance scale of 198.6 billion and a total market value of 218.8 billion [2]. - The listed infrastructure REITs cover various asset types, including transportation, energy, heating, ecological protection, logistics, industrial parks, data centers, rental housing, water conservancy, and consumer infrastructure, making it the largest public REITs market in Asia [2]. Group 2: Future Development Plans - The notice emphasizes the need to accelerate the application of mature asset types such as toll roads, clean energy, and rental housing, while also increasing efforts for potential asset types like heating, water conservancy, and data centers [2][4]. - There is a strong push to explore new asset types for REITs, including railways, ports, and cultural tourism, to meet the urgent financing needs of related enterprises [4][6]. Group 3: Regional Performance - Beijing has issued 13 REITs, raising over 31.1 billion, and has a diverse industry coverage, while Shanghai has listed 9 projects with total fundraising of 17 billion [3][5]. - Both cities are actively working to strengthen project reserves and encourage market participants to submit applications continuously [4][6]. Group 4: Support for Private Investment - The notice encourages the issuance of REITs for private investment projects, which can provide efficient and low-cost financing, significantly benefiting the development of the private economy [6][7]. - The NDRC will prioritize recommending projects with a high proportion of net recovery funds relative to the total fund amount, ensuring a balance between innovation and risk [6][7].