9月12日，国家发改委发布《关于进一步做好基础设施领域不动产投资信托基金（REITs）常态化申报 推荐工作的通知》（下称"782号文"），从推动市场扩围扩容、优化扩募和申报流程、鼓励新类型项目 上市等方面助力发展基础设施REITs。 明确支持民企项目上市 "782号文"引发的另一个焦点，是积极支持民间投资项目发行上市。该文件提出，相关部门要建立健全 民间投资项目发行基础设施REITs专项协调服务机制，实行靠前服务、主动协调、申报单列，帮助民间 投资项目完善投资管理合规手续，加快推动解决项目培育中的问题，积极支持更多符合条件的民间投资 项目发行上市。 数据显示，截至9月13日，已上市的民企REITs项目已超过10只，募集资金逾250亿元，涵盖京东集团、 物美集团、顺丰控股等民营企业。其中，8月上市的南方万国数据中心REIT、南方润泽科技数据中心 REIT作为首批上市的数据中心类型REITs，体现了民企在扩展REITs行业的宽度上发挥了重要作用。 目前，资产混装扩募和鼓励民间投资项目发行上市，是业内关注的两大重点。在上述趋势背景下，此前 已列入试点的新型资产项目，有望实现零的突破。 资产混装扩募获政策支持 "78 ...

Core Viewpoint - The National Development and Reform Commission (NDRC) has issued a notification to enhance the development of infrastructure Real Estate Investment Trusts (REITs), focusing on expanding the market, optimizing fundraising and application processes, and encouraging new types of projects to be listed [1] Group 1: Policy Support for Asset Mix and Expansion - The notification provides clear policy support for asset mix expansion in REITs, allowing for the integration of assets from the same or related industries, which can strengthen the scale and operational capabilities of REITs [2][3] - The policy enables leading companies to acquire smaller projects and utilize REITs for revitalization, allowing smaller firms to indirectly issue REITs for project exit [2] Group 2: Support for Private Enterprises - The notification emphasizes active support for private investment projects to be listed as REITs, establishing a coordination service mechanism to assist in compliance and accelerate project development [4] - As of September 13, over 10 private REIT projects have been listed, raising more than 25 billion yuan, showcasing the significant role of private enterprises in expanding the REITs sector [4] Group 3: Project Cultivation and New Asset Types - The notification stresses the importance of project cultivation and reserves, aiming to create a dynamic project advancement mechanism to inject strong momentum into the market [5] - There is a focus on accelerating the application of mature asset types and exploring new asset types such as railways, ports, and cultural tourism for potential issuance [7] Group 4: Information Management Improvements - The NDRC plans to launch an information system for infrastructure REITs to standardize and digitize the project application process, enhancing efficiency and addressing existing bottlenecks [8]

Core Viewpoint - The article discusses the release of the "Notice on Further Improving the Normalized Declaration and Recommendation Work of Real Estate Investment Trusts (REITs) in the Infrastructure Sector" (referred to as "Document 782"), which aims to support the development of infrastructure REITs through market expansion, optimization of fundraising and declaration processes, and encouragement of new types of projects for listing [1]. Group 1: Policy Support for Asset Mix and Expansion - Document 782 provides clear policy support for asset mix expansion in REITs, allowing for the integration of assets from the same ownership or operational revenue rights categories [2][3]. - The document supports the acquisition of assets from the same industry for expansion, enabling leading companies to acquire projects from smaller firms and utilize REITs for revitalization [2][3]. Group 2: Encouragement of Private Investment Projects - Document 782 emphasizes the active support for private investment projects to issue REITs, establishing a coordination service mechanism to assist in compliance and accelerate project cultivation [4]. - As of September 13, over 10 private REIT projects have been listed, raising more than 25 billion yuan, showcasing the significant role of private enterprises in expanding the REITs sector [4]. Group 3: Project Cultivation and Dynamic Mechanism - The document highlights the need to enhance project cultivation and reserve efforts, establishing a dynamic mechanism for continuous project advancement [5]. - A robust and quality project reserve is deemed essential for the sustainable development of infrastructure REITs, which will inject strong momentum into the market [5]. Group 4: Expansion of Asset Types - Document 782 outlines the acceleration of applications for mature asset types like toll roads and clean energy, while also exploring new asset types such as railways and cultural tourism for potential issuance [6]. - As of September 13, over 70 public REIT products have been listed, with more than 80 in the approval stage, covering around 10 asset types [6]. Group 5: Information Management Improvements - The document mentions the introduction of an information system for infrastructure REITs project management, aiming for standardized and digitalized project declaration processes [7]. - This system is expected to enhance internal coordination efficiency within regulatory departments, addressing existing bottlenecks in the application process [7].