Core Viewpoint - The recent surge in China's public REITs (C-REITs) market is evident from the high subscription rates and investor enthusiasm, indicating strong demand and potential investment opportunities [1][2][4]. Group 1: Market Performance - The subscription rate for Yizhuang Industrial Park REIT reached 265.76 times the initial offline issuance amount, while Green Development Commercial REIT was 249.72 times, showcasing the market's robust interest [2]. - A significant percentage of investors employed top-tier bidding strategies, with 86.34% for Yizhuang Industrial Park REIT and 90.00% for Green Development Commercial REIT, reflecting a competitive bidding environment [2]. Group 2: Investor Participation - Among the effective bidders for Yizhuang Industrial Park REIT, insurance funds accounted for 22.16% of the participants, followed by fund companies and securities firms [3]. - The overall participation of insurance funds in terms of subscription volume was the highest at 38.35%, indicating a strong preference for C-REITs among institutional investors [3]. Group 3: Future Outlook - Analysts express optimism about the continuation of C-REITs' popularity in the third quarter, citing stable cash dividends and the potential for price convergence towards the operational efficiency of underlying assets [4]. - The market is expected to see ongoing interest in newly issued products, particularly in sectors like data centers, energy, and logistics, which are perceived to have favorable valuation characteristics [5][6]. Group 4: Investment Strategies - Institutions are encouraged to focus on strategic allocations in the primary market and monitor secondary market price fluctuations to capitalize on undervalued products [5]. - C-REITs can be traded in the secondary market for capital gains, with investment strategies varying based on the type of REIT, such as using IRR for operating rights REITs and cash distribution rates for property rights REITs [6].