上海发改委提出推动本市REITs提质扩容

Core Insights - The Shanghai Municipal Development and Reform Commission has proposed measures to enhance the quality and expansion of infrastructure REITs in the city, encouraging local enterprises to actively apply for project reserves [1][7] - The total issuance scale of listed REITs reached 174.4 billion yuan, with 66 REITs issued as of June 6, 2025 [8] Market Performance - During the week of June 3 to June 6, 2025, the CSI REITs total return index increased by 1.58%, while the total REITs index rose by 1.57%. The property REITs index saw a gain of 0.85%, and the operating rights REITs index increased by 2.87% [2][17] - The total REITs index outperformed the CSI 300 index by 0.69 percentage points and the CSI All Bond index by 1.41 percentage points, but underperformed the Nanhua Commodity index by 0.24 percentage points [2][17] Liquidity - The overall trading activity of REITs increased, with a total trading volume (MA5) of 498 million yuan, up 4.6% from the previous week. The trading volumes for property and operating rights REITs were 270 million yuan and 228 million yuan, respectively [3][37] - The largest trading volume among REIT types was in transportation infrastructure, accounting for 32.4% of the total [3][37] Correlation - The correlation coefficients between the CSI REITs index and major indices over the past 20 days show a positive correlation with the CSI 300 index (0.583) and a negative correlation with the CSI All Bond index (-0.053) [29][30] - The internal correlation among different REIT categories indicates a strong relationship between industrial park REITs and warehouse logistics REITs (0.814) [31]