Bei Jing Shang Bao·2025-12-30 06:45Core Viewpoint - State-owned enterprises are crucial for the economic and social development of the capital and are the core force driving high-quality development. The "14th Five-Year Plan" emphasizes the need to deepen state-owned asset and enterprise reform to strengthen and optimize state-owned enterprises and capital [1] Group 1: Market Development and Trends - The REITs market in China has seen significant growth, with over 20 institutional REITs products issued, surpassing a total scale of 50 billion yuan, covering diverse assets such as highways, renewable energy, commercial properties, and rental housing [2] - The development of a multi-level REITs market is seen as a new pathway for state-owned enterprises to revitalize assets, upgrade, and expand investments, aligning with national strategies to activate existing assets and increase effective investments [1][2] Group 2: Case Study of Financial Services - China Merchants Bank's Beijing branch has actively engaged in the reform of state-owned enterprises by providing tailored financial services, exemplified by its support for Jingneng International, a subsidiary of Jingneng Group, in exploring diversified asset revitalization paths [2][3] - The successful issuance of the "CICC-Jingneng International Energy Infrastructure Holding Real Estate Asset Support Special Plan" on December 18, 2025, with a scale of 1.161 billion yuan, marks a significant milestone as the first institutional REITs for mixed renewable energy assets in the market and the first off-balance-sheet institutional REITs for a state-owned enterprise in Beijing [3] Group 3: Future Directions - The Beijing branch of China Merchants Bank aims to continue focusing on customer-centric service, leveraging professional capabilities and innovative solutions to support the financing needs of state-owned enterprises and key project construction, contributing to the high-quality development of the capital's economy and society [4]