证监会就推出商业不动产投资信托基金试点草案公开征求意见 强化监管责任

Core Viewpoint - The China Securities Regulatory Commission (CSRC) has drafted an announcement for the pilot program of Commercial Real Estate Investment Trusts (REITs) to enhance the quality of the real estate investment market and support the development of a new model for real estate [2][3]. Summary by Sections Product Definition - Commercial real estate REITs are defined as closed-end publicly raised securities investment funds that acquire stable cash flow through holding commercial real estate and distribute profits to fund shareholders [2][3]. Fund Registration and Operational Management Requirements - The announcement specifies requirements for fund managers and custodians, due diligence, application materials, and the responsibilities of fund managers for proactive operational management [2][3]. Role of Fund Managers and Professional Institutions - It emphasizes the importance of fund managers and professional institutions, mandating strict adherence to professional norms and regulatory requirements [2][3]. Strengthening Regulatory Responsibilities - The announcement clarifies the responsibilities of regulatory bodies to ensure compliance with laws and regulations in the supervision and risk monitoring of commercial real estate REITs [2][3]. Other Relevant Matters - Other matters related to commercial real estate REITs will follow the guidelines set forth in the "Guidelines for Publicly Raised Infrastructure Securities Investment Funds (Trial)" [2][3].