周观 REITs：商务部等9部门：优先支持社区商业等发行REITs

Group 1: Core Insights - The report highlights the priority support for community commercial complexes, neighborhood centers, department stores, and vegetable markets in issuing REITs to enhance the convenience of urban living [7][8] - A total of 194.3 billion yuan has been raised through the issuance of 74 REITs as of September 19, 2025 [8] Group 2: Market Performance - During the week of September 15 to September 19, 2025, the CSI REITs total return index increased by 0.12%, while the total REITs index rose by 0.05% [15] - The top-performing REITs included Huaxia Fund Huazhu REIT (+2.20%), China Merchants Highway REIT (+1.89%), and E Fund Shen High-Speed REIT (+1.57%) [15] Group 3: Liquidity - The total trading volume of REITs decreased to 468 million yuan, a 19.0% decline from the previous week [34] - The largest category by trading volume was transportation infrastructure REITs, accounting for 19.7% of the total [34] Group 4: Correlation - The report provides correlation coefficients between the CSI REITs index and various asset classes, indicating a positive correlation with bond indices and a negative correlation with stock indices [27] - The CSI REITs index showed a correlation of 0.530 with the CSI All Bond index over the last 20 days [27]