展望2026年，北京一位 公募REITs 产品基金经理表示，对2026年公募REITs市场持积极乐观态度，核心是政策红利与市场生态完善带来 的高质量发展机遇。2025年底配套规则集中落地，不仅启动商业不动产REITs试点，还明确支持扩募、合并及REITs ETF研发，为市场注 入制度动力。 宏观层面，经济稳步复苏叠加利率中枢下行预期，REITs作为高股息含权资产，在资产荒背景下对保险、社保等长期资金的吸引力会持续提 升。市场将呈现分化提质特征，优质资产与运营能力强的项目会获估值溢价，而单一资产、经营承压的项目可能面临波动。新增长点同样 值得期待，数据中心、文旅、养老等新资产类别将加速上市，扩募机制常态化也让REITs从单一项目向资产平台演进。 他同时提醒，仍需警惕长端利率上行、部分商业不动产空置率高企等风险，但整体而言，2026年REITs市场机遇大于挑战，将进入成熟深 化的发展阶段。 Wind数据显示， 2025年，我国公募REITs全年新发行产品20单、扩募5单，合计募资473.35亿元。截至2025年年底，公募REITs市场总 发行产品数量达79单，总发行规模（含扩募）突破2100亿元。历经5年时间，我 ...

Group 1 - The first public REIT for tunnels in China, named "Oriental Red Tunnel Co., Ltd. Intelligent Operation and Maintenance High-Speed REIT," has been officially submitted for approval [2][4] - The project is initiated by Shanghai Infrastructure Construction Development (Group) Co., Ltd. and managed by Shanghai Dongfang Securities Asset Management Co., Ltd. [3][4] - The REIT project will focus on the Qianjiang Tunnel, a significant highway tunnel in Zhejiang Province, which is 4.45 kilometers long and the first of its kind in the province using shield tunneling technology [4] Group 2 - The China Aviation Nuclear Group's energy public REIT has been accepted for review, initiated by China Nuclear Huaneng Co., Ltd. and managed by China Aviation Fund [5][6] - The underlying assets for this REIT include wind power projects in Guangxi and Xinjiang, with an estimated initial capacity of around 200,000 kilowatts and a valuation of approximately 1.5 billion yuan [6] Group 3 - The "Ping An Xi'an High-tech Industrial Park REIT" has been submitted for approval, marking the first local REIT project in Shaanxi Province [6][8] - This project is initiated by Xi'an High-tech Zone Infrastructure Development Co., Ltd. and managed by Ping An Fund Management Co., Ltd., with an estimated net value of 1.36 billion yuan for the underlying assets [8]