【建筑建材】周专题：公募REITs市值首破2000亿——建材建筑及基建公募REITs周报（0531-0606）（孙伟风/吴钰洁）

Core Viewpoint - The public REITs market in China has reached a total market value of over 200 billion yuan for the first time, driven by new issuances and a rising secondary market [3] Group 1: Public REITs Market - As of June 6, the total market value of public REITs has increased by 29% since the end of 2024, reaching over 200 billion yuan [3] - The public REITs market index closed at 113.91, reflecting a 19% increase since the end of 2024, positioning it at the 78th percentile historically [3] - The narrowing yield spread between public REITs and long-term bonds is a significant factor contributing to the market's upward trend, alongside new trading elements such as new issuances, dividends, and expansions [3] - Eight new products have been launched in 2025, with a total issuance scale of 13.4 billion yuan, and several more products are currently under review [3] Group 2: Infrastructure Projects - The Three Gorges Waterway New Channel project has begun bidding, with the aim to start construction within the year [4] - The project includes the Three Gorges Hub New Channel Engineering and the Gezhouba Navigation Capacity Expansion Project, with a static total investment of approximately 76.6 billion yuan and a total construction period of 100 months [4] - The project has received approval for its feasibility study, and funding sources have been secured, indicating a positive outlook for infrastructure investment in the transportation sector [4]