REITs refer to "real estate investment trust fund", which is an investment fund that issues income certificates to investors, raises funds to invest in real estate and distributes investment income to investors. The development of REITs global market, our work and life are closely related to the development of real estate. Office buildings, shopping centers, expressways and industrial parks all belong to the category of real estate. Looking around the world, REITs originated in the United States and later developed to more than 4 countries and regions, such as Australia, Japan, Singapore and Hong Kong. In the past 6 years since its birth, the basic assets have gradually expanded from commercial real estate to transportation, energy, retail, medical and other fields, and the global asset management scale has exceeded 2 trillion US dollars. The introduction of REITs is of great significance to the development of macro-economy, which can help enterprises recover funds quickly, revitalize stock assets and inject new driving force into the market. In addition, it lowers the threshold for investors to participate in real estate investment, and has the characteristics of high liquidity, relatively stable return and strong security. Infrastructure Investment Fund (REITs) According to the announcement, the investors, according to the announcement, the sale of nine publicly issued REITs to public investors was originally planned to be sold for two to three days, but in the morning, all the sales were oversubscribed and the proportional placement will be started.

Public Offering of Fund REITs public investors such as Bosera Fund and Fuguo Fund have sold more than 15 times, and it is estimated that the final placement ratio may be less than 5%, and the final placement ratio of Ping An Fund, Soochow Fund and other related products may be less than 1%. At present, the subscription multiple of "Zhangjiang REIT" managed by Guotai Junan is close to 1 times; China galaxy Securities Branch sold REITs online for nearly 7 million yuan. REITs generally refer to real estate trust funds, which are a form of funds and mainly invest in the real estate market. The source of income depends on the real estate rent and management fees invested.

REITs are not familiar with A stock investors, but the Hong Kong stock market has matured. At present, there are 11 REITs in Hong Kong stock market, with an annualized rate of return of more than 1%. At present, the nine publicly-offered REITs issued in China mainly invest in infrastructure such as warehousing and logistics, environmental protection, highways and industrial parks. The nine publicly-offered REITs issued this time are closed-end funds, and the investment assets are infrastructure projects with certain cash flow, and the continuous and stable cash flow returns can be obtained through the continuous operation of these infrastructure projects. Because it is a fund, there are two ways to participate in these nine publicly offered REITs, namely, off-site subscription and on-site subscription. Over-the-counter subscription is to subscribe in fund platforms and consignment agencies, just like ordinary purchase funds, but this public offering of REITs is a closed fund. Once the subscription is completed, there will be a closed period, subscription and redemption will no longer be open, and they can only be traded in the secondary market for at least 2 years.