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How to distinguish between R4 and C3 risk levels of REITs?

1. Risk perspective: From the perspective of risks that investors are concerned about, the risk level given by the fund company is R4, which is a relatively high risk, and the risk level given to securities companies is C3, which is a medium risk.

2. Place: The risk level of over-the-counter public REITs is R4 (medium to high), and the on-site risk level is C3 (medium).