光大证券研究·2025-06-28 14:32Market Overview - The secondary market for publicly listed REITs in China showed an overall downward trend, with the weighted REITs index closing at 143.24 and a weekly return of -1.22% [2] - In comparison to other major asset classes, the return rates ranked from high to low are: convertible bonds, US stocks, A-shares, pure bonds, REITs, gold, and crude oil [2] - Among different project attributes, both property and concession REITs experienced price declines, with property REITs showing a smaller drop [2] - The transportation infrastructure REITs had the largest decline, while the top three performing asset types were affordable housing, energy, and ecological protection [2] Trading Activity - The total trading volume for publicly listed REITs was 2.9 billion yuan, with municipal facility REITs leading in average daily turnover rate [3] - The average daily turnover rate for all listed REITs was 0.93% [3] - The top three REITs by trading volume were Guotai Junan Dongjiu New Economy REIT, Zhongjin ProLogis REIT, and Huaxia China Communications Construction REIT [3] Net Inflow and Block Trading - The total net inflow for the week was 81.54 million yuan, indicating a decrease in market trading enthusiasm [4] - The top three asset types for net inflow were consumer infrastructure, park infrastructure, and energy infrastructure [4] - The total amount of block trading reached 789.97 million yuan, significantly higher than the previous week, with the highest single-day block trading occurring on June 24, 2025, at 309.6 million yuan [4] New Listings - Two new REITs were listed this week: Zhongjin Yizhuang Industrial Park REIT on June 26, 2025, and Zhongjin China Green Development Commercial Asset REIT on June 27, 2025 [5]