Core Insights - The report from the China Index Academy indicates that the public REITs for affordable rental housing showed stable and positive performance in Q2, with an overall increase in rental rates for market-oriented projects [1][2] - The issuance and expansion preparations for affordable rental housing public REITs are progressing steadily in Q3, with expectations for accelerated issuance due to ongoing policy support [3][4] Group 1: Q2 Performance - In Q2, all affordable rental housing REITs reported growth in income, with the Huaxia Beijing Affordable Housing REIT seeing a more than 15% increase in both year-on-year and quarter-on-quarter revenue due to successful expansion [1] - The overall net profit for affordable rental housing REITs increased by 7% to 10% quarter-on-quarter, with only a few exceptions showing declines [1] - The distributable amount for affordable rental housing REITs also saw a growth of around 5% quarter-on-quarter, with notable increases from Huaxia Beijing and China Merchants Fund [1] Group 2: Rental Rates - By the end of Q2, the rental rates for underlying assets of affordable rental housing REITs were generally above 95%, with significant recovery in market-oriented projects [2] - Specific projects like Huaxia Beijing and China Merchants Fund's assets maintained stable high rental rates, while others implemented marketing strategies to enhance rental performance [2] Group 3: Q3 Developments - In Q3, no new public REITs for affordable rental housing were launched, but Guangzhou Anju Group plans to issue at least 800 million yuan in public REITs covering various rental housing assets [3] - The expansion of the Guotai Haitong Chengtou Kuan Ting Affordable Housing REIT is planned, with the acquisition of 3,592 units in community projects [3] - The private REITs for rental housing also made progress, with the Jianxin Housing Rental Fund completing its first expansion, raising 453 million yuan through two affordable housing projects in Nanjing [3] Group 4: Policy Support - The China Index Academy's research manager noted that the market-oriented rental housing public REITs are receiving policy support, which is expected to accelerate future issuances [4] - The National Development and Reform Commission has included market-oriented rental housing as a new asset type for public REITs, indicating a new direction for asset securitization in the rental housing sector [4]