中国基础设施公募 REITs（第三辑）：从起步到加速发展-China_ C-REITs (No. 3)_ From debut to acceleration
2025-07-22 01:59
EQUITY RESEARCH | July 21, 2025 | 5:55PM CST China: C-REITs (No. 3) From debut to acceleration Since 2H24, the C-REITs market has embarked on a fast growth trajectory, supported by policy tailwinds and a conducive low-rate macro environment. As of Jun-25, four years after the market first appeared, a total of 68 C-REITs had been listed with the aggregate market cap expanding five folds to over Rmb200bn, equivalent to 0.15%/0.24% of China GDP/total stock market and 6%/1% of developers' funding gap/debt balan ...