Real estate trust and investment funds (REITs) are an important means of real estate securitization. Real estate securitization is a financial transaction process that directly transforms illiquid non-securities real estate investment into securities assets in the capital market. Real estate securitization includes two basic forms: real estate project financing securitization and real estate mortgage securitization.

On July 17, 2020, China REITs Forum held "China REITs Market Road Seminar and China REITs Market Construction Online".

REITs first appeared in the United States in the early 1960s, and were founded by the United States Congress, aiming at enabling small and medium-sized investors to participate in the real estate market at a low threshold, and gain the benefits brought by real estate market transactions, rents and appreciation. In Asia, REITs first appeared in Japan. Because there are many real estate companies in Japan, the market in Japan is very large.

1960, the world's first REITs was born in the United States. Like other financial innovations in the 1960s and 1970s, real estate investment trusts were born to evade supervision. With the US government officially allowing qualified REITs to be exempted from income tax and capital gains tax, REITs have become the most important financial model in the United States.

Under normal circumstances, the dividend ratio of REITs exceeds 90%. There are about 300 real estate investment trusts in operation in the United States, with total assets under management exceeding $300 billion, of which nearly two thirds are listed and traded on national stock exchanges.