Core Viewpoint - The National Development and Reform Commission (NDRC) has issued a notice to accelerate the normalization of the application and recommendation process for infrastructure Real Estate Investment Trusts (REITs), aiming to expand the market and promote new asset types [1][2]. Group 1: Current Market Status - As of the end of August, China has successfully listed 73 infrastructure REITs, with a total issuance scale of 198.6 billion yuan and a total market value of 218.8 billion yuan [2]. - The existing infrastructure REITs cover various asset types, including transportation, energy, heating, ecological protection, logistics, industrial parks, data centers, rental housing, water conservancy, and consumer infrastructure, making it the largest public REITs market in Asia [2]. Group 2: Promotion of New Asset Types - The notice encourages the exploration of new asset types for REITs, such as railways, ports, ultra-high voltage transmission, communication towers, market-oriented rental housing, cultural tourism, specialized markets, and elderly care facilities [6][7]. - There is a significant demand from enterprises for the issuance of new asset type projects, particularly in the railway and port sectors, which traditionally rely on bank loans and bonds for financing [7]. Group 3: Regional Developments - Beijing has been proactive in promoting infrastructure REITs, with an average of three projects listed annually since the first pilot projects in 2021, raising over 31.1 billion yuan [5]. - Shanghai's infrastructure REITs market has also shown vitality, with nine projects listed by the end of August, raising a total of 17 billion yuan [5][8]. Group 4: Support for Private Investment - The notice emphasizes the importance of supporting private investment projects in issuing REITs, which can provide efficient and low-cost financing for private enterprises [9]. - The NDRC will prioritize recommending projects with a high proportion of net recovery funds relative to the total fund amount, ensuring a balance between innovation and risk [9].