Jing Yingkepu said that the United States is one of the first countries in the world to set up real estate investment funds, and it is also a country with a relatively sound financial system and laws and regulations. In the 1960s, in order to solve the disadvantages of high professional requirements, large capital demand, strong regionality and poor liquidity in real estate investment, real estate investment trust funds managed by real estate professional institutions appeared in the United States, which pooled the funds of many investors and invested in real estate.