【固收】二级市场价格震荡波动，产权类REITs环比上涨——REITs周度观察（20250714-250718）（张旭/秦方好）

Group 1: Secondary Market - The overall price trend of publicly listed REITs in the secondary market showed an initial increase followed by a decline, with the weighted REITs index closing at 142.5 and a weekly return rate of 0.11% [2] - Among major asset classes, the return rates ranked from high to low are: crude oil, convertible bonds, US stocks, A-shares, REITs, pure bonds, and gold [2] - By project attributes, both property and concession REITs exhibited fluctuating price trends, with property REITs increasing while concession REITs decreased [3] - The municipal facilities REITs had the highest increase in this week, with the top three asset types by return rate being municipal facilities, park, and consumer types [4] - A total of 40 REITs increased in value while 28 decreased, with the top three gainers being China Merchants Science and Technology REIT, Huaxia Jinmao Commercial REIT, and Zhongjin Hubei Keti Guanggu REIT [5] - The total transaction scale for public REITs this week was 2.48 billion, with ecological and environmental protection REITs leading in average daily turnover rate [6] - The top three REITs by transaction volume were Huaxia Hefei High-tech REIT, Huaxia Beijing Affordable Housing REIT, and Huaxia Zhangjiang Industrial Park REIT, while the top three by transaction amount were Huaxia Beijing Affordable Housing REIT, Huaxia China Resources Commercial REIT, and Zhongjin Xiamen Anju REIT [7][8] - The total net inflow for the week was -6.1 million, indicating a decrease in market trading enthusiasm, with the top three asset types by net inflow being affordable rental housing, consumer infrastructure, and energy infrastructure [8] - The total amount of block trades reached 270.02 million, showing a decrease from the previous week, with the highest single-day block trade occurring on July 17, 2025, at 170.16 million [8] Group 2: Primary Market - No new REIT products were launched this week [9] - There were updates on the project status for four REIT products this week [10]