证监会：拟推出商业不动产投资信托基金试点

Core Viewpoint - The China Securities Regulatory Commission (CSRC) is seeking public opinion on a draft announcement regarding the pilot launch of Commercial Real Estate Investment Trusts (REITs) to promote high-quality development in the REITs market and enhance the capital market's ability to support the real economy [1] Group 1: Product Definition and Structure - Commercial Real Estate REITs are defined as closed-end publicly offered securities investment funds that hold commercial real estate to obtain stable cash flows and distribute profits to fund shareholders [1] Group 2: Fund Management and Operational Requirements - The announcement outlines requirements for fund registration and operational management, including the responsibilities of fund managers and custodians, due diligence, application materials, and the active management responsibilities of fund managers [1] Group 3: Regulatory Framework - The draft emphasizes the role of fund managers and professional institutions, mandating strict adherence to professional standards and regulatory requirements [1] - It also clarifies the regulatory responsibilities of various agencies in overseeing Commercial Real Estate REITs and managing associated risks [1]