证监会就《中国证监会关于推出商业不动产投资信托基金试点的公告（征求意见稿）》公开征求意见

Core Viewpoint - The announcement outlines the regulatory framework for commercial real estate REITs, emphasizing the importance of stable cash flow generation and compliance with operational management requirements [1] Group 1: Product Definition - Commercial real estate REITs are defined as closed-end publicly offered securities investment funds that generate stable cash flow through the ownership of commercial real estate and distribute profits to fund shareholders [1] Group 2: Fund Registration and Management Requirements - The announcement specifies requirements for fund registration and operational management, including the roles of fund managers and custodians, due diligence, application materials, and responsibilities for proactive management by fund managers [1] Group 3: Role of Fund Managers and Professional Institutions - It emphasizes the need for fund managers and professional institutions to adhere strictly to professional norms and regulatory requirements, thereby ensuring accountability [1] Group 4: Strengthening Regulatory Responsibilities - The announcement clarifies the responsibilities of regulatory agencies in monitoring and managing risks associated with commercial real estate REITs, ensuring compliance with laws and regulations [1] Group 5: Reference to Other Regulations - Other matters related to commercial real estate REITs will follow the guidelines set forth in the "Guidelines for Publicly Offered Infrastructure Securities Investment Funds (Trial)" [1]