发改委推动基建REITs扩围探索文旅、养老设施等领域发行

Core Viewpoint - The National Development and Reform Commission (NDRC) has issued a notice to promote the high-quality development of infrastructure Real Estate Investment Trusts (REITs), aiming to revitalize existing assets and expand effective investment through specific measures across four dimensions: market expansion, fundraising support, project vetting, and organizational assurance [1]. Group 1: Market Expansion - The notice prioritizes the expansion of the REITs market, focusing on consolidating mature asset advantages while actively exploring new fields and opening channels for private investment [1]. - In terms of mature asset types, the notice encourages the application of high-quality infrastructure projects that significantly contribute to national strategies and policies, with an emphasis on large-scale fund issuance projects [1]. - The notice aims to accelerate the application of mature asset types such as toll roads, clean energy, warehousing and logistics, and affordable rental housing, while also increasing efforts for potential asset types like heating, water conservancy, and data centers [1]. Group 2: New Asset Types - The notice explicitly states the intention to explore issuance paths for "zero-case" fields such as railways, ports, ultra-high voltage transmission, communication towers, market-oriented rental housing, cultural tourism, specialized markets, and elderly care facilities [1]. - The NDRC plans to coordinate and resolve challenges to help these projects meet issuance conditions quickly, thereby enriching the asset spectrum of infrastructure REITs [1]. Group 3: Asset Integration for Listed REITs - To enhance the asset integration capability of already listed REITs, the notice introduces support policies for the acquisition of new projects, aiming to lower operational thresholds and broaden asset boundaries [2]. - The notice simplifies the process, allowing listed infrastructure REITs to apply for new projects through provincial development and reform commissions or central enterprises six months after their initial issuance [2]. - Projects that meet the criteria will be prioritized for assessment and recommendation by the NDRC, thereby accelerating the approval process and reducing bureaucratic hurdles [2].