2020年4月，基础设施REITs试点工作正式启动。2021年6月21日，首批9个基础设施REITs试点项目 挂牌上市。国家发展改革委投资司负责人此前介绍，基础设施REITs试点工作启动以来，制度规则持续 完善，发行规模稳步增长，资产类型不断丰富，市场表现总体稳健，各方面参与积极性不断提升，基础 设施REITs对促进投融资机制创新、深化资本市场改革、服务实体经济发展的重要作用正逐步显现。在 4年试点基础上，2024年，基础设施REITs进入常态化发行阶段。 "基础设施REITs工作自2020年启动以来，国家发展改革委会同中国证监会，持续推动基础设施 REITs市场扩围扩容。"国家发展改革委政策研究室副主任李超说，在工作开展初期，将仓储物流、收费 公路、市政设施、产业园区等纳入发行范围；后续，又逐步增加了清洁能源、数据中心、保障性租赁住 房、水利设施、文化旅游、消费基础设施等行业领域和资产类型。 发行范围明显扩大 经过多轮扩围，基础设施REITs发行范围明显扩大。数据显示，在2025版清单发布前，基础设施 REITs发行范围已涵盖了12大行业的52个资产类型。 "国家发展改革委积极推动基础设施REITs进一步扩 ...

Core Viewpoint - The National Development and Reform Commission (NDRC) has released the "2025 Edition List of Industry Scope for Real Estate Investment Trusts (REITs) in the Infrastructure Sector," expanding the issuance scope of infrastructure REITs to better support the real economy and promote a virtuous investment cycle [1][4]. Group 1: REITs Overview - REITs are publicly traded financial products that convert stable income-generating infrastructure assets into liquid, standardized equity products [2]. - Infrastructure REITs facilitate the financing of existing infrastructure projects through publicly raised funds, helping to revitalize assets and recover funds for new project construction [2][3]. Group 2: Expansion of Issuance Scope - The issuance scope of infrastructure REITs has significantly expanded, now covering 12 major industries and 52 asset types prior to the 2025 edition list [4]. - New additions to the 2025 list include commercial office facilities and urban renewal facilities, with specific projects like four-star and above hotels and sports venues in the consumer infrastructure sector [4]. Group 3: Market Performance and Impact - As of now, 83 out of 105 recommended projects have been issued and listed, with a total fundraising amount of 207 billion yuan, expected to drive over 1 trillion yuan in new project investments [5]. - Private investment projects have played a crucial role, with several being the first in their respective fields, enhancing the quality of consumer infrastructure [6]. Group 4: Future Directions - The NDRC aims to continue supporting qualified private investment projects in issuing infrastructure REITs, enhancing the market's expansion and addressing challenges faced by these projects [6]. - Ongoing collaboration with the China Securities Regulatory Commission (CSRC) will focus on optimizing the application process and improving project quality while preventing risks [6].