登录新浪财经APP 搜索【信披】查看更多考评等级 证券时报记者 赵梦桥 公募REITs生态的健康发展离不开发行人、监管方、中介机构、投资者等多方主体的协同发力。在证券时报社主办 的"变革与突围·中国基金业高质量发展系列沙龙"之"掘金公募REITs大时代·生态共建与价值共生"的圆桌论坛环 节，华夏基金、东吴基金、国寿资产、新华资产以及九州通等多家机构和上市公司的嘉宾，阐释了各自视角里"多 层次REITs生态体系"急需补强的环节，并为推动各方实现真正的"价值共生"建言献策。 提高流动性为第一要务 面对当前公募REITs市场存在的资产供给不足、估值分歧、流动性待提升等瓶颈问题，与会嘉宾从生态共建角度提 出了多项建议。 制度完善 或可借鉴股票市场 除了规模困局待解以外，制度的完善也是REITs业务走向成熟的必经之路。 华夏基金基础设施与不动产业务部行政负责人莫一帆指出，Pre-REITs、私募REITs承担了优质资产储备和孵化的功 能，但目前从Pre-REITs/私募REITs到公募REITs的退出路径尚不清晰。在原始权益人认定、净回收资金投资等方面 细节，有待进一步明确和优化。 莫一帆强调，相关各方可推动政策优化完 ...

Group 1 - The public REITs market in China has experienced a surge in temporary suspensions due to significant price increases, with nearly 30 products suspended this year due to exceeding threshold gains, particularly in consumer infrastructure REITs which have averaged around 40% gains [1][3] - The low interest rate environment has led to increased institutional demand for REITs, driving up valuations, but the rising premium rates have resulted in a notable decline in cash distribution rates, indicating emerging market risks [1][6] - Consumer infrastructure REITs have become the fastest-growing segment within the public REITs market, supported by favorable policies aimed at boosting consumption, with the average gain for listed REITs reaching 15.17% this year [4][5] Group 2 - Specific REITs such as E Fund Huawai Market REIT and Hongtu Innovation Shenzhen Anju REIT have announced temporary suspensions due to significant price deviations from their benchmark prices, with E Fund's price increasing by 71.39% and Hongtu's by 52.78% [2][3] - The performance of consumer infrastructure REITs has been particularly strong, with several products achieving gains exceeding 40%, including Huazhong Baiyun Consumer REIT and Jiashi Wumei Consumer REIT [4][5] - Analysts suggest that while consumer REITs are considered relatively safe investments due to their anti-cyclical nature, investors should be cautious of high premium rates and declining cash distribution rates, which have dropped from 6.22% to 4.21% for Jiashi Wumei Consumer REIT [6][7]