Group 1 - The core viewpoint of the article is that the new regulations and supporting documents for commercial real estate REITs have been implemented, marking the beginning of a new chapter in the market [4] - The China Securities Regulatory Commission (CSRC) has officially launched the pilot program for commercial real estate REITs, with a broad definition that includes commercial complexes, retail, office, and hotel properties [5] - The establishment of a dual-track review system is expected to enhance review efficiency and accelerate the expansion of the REITs market [5] Group 2 - Multiple mechanisms have been improved and supplemented, including pricing mechanisms, fundraising mechanisms, information disclosure mechanisms, project registration review mechanisms, and risk prevention measures, which will help stabilize the REITs market while promoting expansion [6] - The CSRC has proposed to enrich the index system covering REITs and encourage various long-term funds, such as insurance funds and social security funds, to enter the market, which is expected to lead to a market rebound [7]
【建筑建材】商业不动产REITs新规落地，REITs市场开启新章——公募REITs一揽子政策点评（孙伟风/吴钰洁）
光大证券研究·2026-01-06 23:04