Core Viewpoint - The first batch of commercial real estate REITs has been submitted to the China Securities Regulatory Commission (CSRC), marking a significant step in expanding the public REITs scope to include commercial real estate, which is crucial for revitalizing existing commercial assets and supporting a new model of real estate development [1] Group 1 - The first batch of commercial real estate REITs includes three funds: Huaan Jinjiang Closed-end Commercial Real Estate Securities Investment Fund, Huitianfu Shanghai Real Estate Closed-end Commercial Real Estate Securities Investment Fund, and CICC Vipshop Closed-end Commercial Real Estate Securities Investment Fund [1] - The approval status for these funds is currently "materials received" [1] - Expanding the scope of public REITs to include commercial real estate is an important part of enhancing the capital market's service to the real economy [1] Group 2 - The initiative aims to activate existing commercial assets and support the construction of a new model for real estate development [1]