监测周报 2026 年 2 月 2 日—2026 年 2 月 8 日 总第 376 期 2026 年第 5 期 隐性债务监管高压态势不变强调防范"处置风险的风险" 地方政府债与城投行业 ◼ 要闻点评 ◼ 地方政府债与城投债交易情况 国常会研究促进有效投资措施 浙江鼓励常态化发行交通基础设施 REITs ——地方政府债与城投行业监测周报 2026 年第 5 期 本期要点 作者： 中诚信国际研究院 院长 袁海霞 hxyuan@ccxi.com.cn 【地方政府债与城投行业监测周报 2026 年第 4 期】中央 1 号文件再提"创新乡村 振兴投融资机制" ，辽宁甘肃融资平台 累计压降均超八成 2026-2-5 如需订阅研究报告，敬请联系 中诚信国际品牌与投资人服务部 赵 耿 010-66428731； gzhao@ccxi.com.cn www.ccxi.com.cn www.ccxi.com.cn 地方政府债与城投行业监测周报 2022 年第 9 期 【地方政府债券与城投行业监测周报 2022 年第 40 期】发改委支持民间投资参与基建，海南发行离岸 【地方政府债与城投行业监测周报 2026 年第 3 期】青海提 ...

- The report focuses on the annual performance of public REITs in 2025, highlighting that the issuance scale and number of REITs declined year-on-year, with a total of 78 REITs listed by the end of 2025, amounting to an issuance scale of 2,109.11 billion yuan[4][5][6] - The REITs market in 2025 saw the addition of new asset categories, including municipal facilities and new infrastructure, with warehouse logistics, consumer infrastructure, and park infrastructure being the primary issuance sectors[13][14][15] - Consumer infrastructure REITs had the largest issuance scale in 2025, totaling 104.45 billion yuan, followed by warehouse logistics REITs at 103.10 billion yuan, while park infrastructure REITs maintained a stable issuance scale of 91.57 billion yuan[15][17][30] - The report highlights the operational performance of various REITs categories, noting that consumer infrastructure REITs showed significant growth in revenue and distributable income, while energy infrastructure REITs faced challenges due to policy changes and reduced electricity settlement prices[18][19][44] - The first municipal facilities REIT, focusing on municipal heating infrastructure, was launched in 2025, with its performance closely tied to seasonal characteristics[47][50] - New infrastructure REITs, launched in 2025, focused on data center facilities, benefiting from the growing demand for intelligent computing power, with tenants primarily being major telecom operators[50] - The report emphasizes the potential of commercial real estate REITs, which were introduced in late 2025, to revitalize existing commercial assets and support the transformation of the real estate industry towards a sustainable "hold-and-operate" model[11][53][54]