发改委推进基建REITs常态化申报：扩围新资产，力挺民间投资参与

Core Viewpoint - The article discusses the recent policy initiative by the National Development and Reform Commission (NDRC) aimed at promoting the high-quality development of infrastructure Real Estate Investment Trusts (REITs) in China, focusing on expanding the market, simplifying processes, and enhancing compliance and fund utilization efficiency [2][4][8]. Group 1: Market Expansion and Support - The NDRC's notification emphasizes the importance of expanding the market for infrastructure REITs, prioritizing high-quality infrastructure projects that align with national strategies and policies [4]. - The notification encourages the submission of large-scale projects that can significantly contribute to the expansion of the infrastructure REITs market, including established asset types like toll roads and clean energy [4]. - New asset types such as railways, ports, and cultural tourism are identified for exploration, with a focus on resolving challenges to meet issuance conditions [4][5]. Group 2: Process Simplification and Asset Range Expansion - The notification introduces a dynamic mechanism for project management, requiring local development and reform commissions to maintain a project ledger for promising infrastructure projects [5]. - It simplifies the process for existing REITs to acquire new projects, allowing submissions six months post-initial issuance, thereby reducing approval steps and expediting evaluations [7]. - The asset range for existing REITs is broadened to include similar and related projects across different sectors, promoting cross-regional asset integration [7]. Group 3: Compliance and Fund Utilization Efficiency - The NDRC emphasizes a balanced approach focusing on project compliance, procedural integrity, and effective fund utilization to ensure healthy market development [8]. - Key criteria for project recommendations include clarity of ownership, asset integrity, stable operations, and good returns, aligning with national strategic goals [8]. - The notification encourages projects with a high proportion of net recovery funds relative to the total fund amount to be prioritized, while local commissions are tasked with monitoring fund usage to ensure effective investment [8].