The China Securities Regulatory Commission and the National Development and Reform Commission jointly issued the Notice on Promoting REITs Pilot in Infrastructure. At the same time, the China Securities Regulatory Commission solicited opinions on the Guidelines for Infrastructure Securities Investment Funds (Trial) (draft for comments). Yang Delong, chief economist of Qianhai Open Source Fund, believes that the relevant documents of the REITs pilot project have been issued. It marks the official launch of China public offering infrastructure REITs. According to the proportion of public offering REITs market in the United States to GDP, the market size of public offering REITs in China will reach several trillion yuan in the future. Next, does Jintou Bian Xiao introduce the open experiment of real estate securitization?

Let the house move.

The policy of "housing and not speculating" promotes the real estate leasing market to enter a period of rapid development, and it is increasingly urgent to explore real estate securitization in China for a long time. At the same time, the new regulations on asset management have recently landed, the management of non-standard assets has become stricter, and the financing of housing enterprises has become more and more difficult. The development demand of asset securitization products such as REITs is more and more urgent.

In the past ten years, many domestic departments have put forward suggestions on developing REITs. 2065438+April 2008, the CSRC and the Ministry of Housing and Urban-Rural Development jointly issued the Notice on Promoting the Securitization of Housing Leasing Assets to promote the securitization of housing leasing assets, focusing on the pilot issuance of real estate investment trust funds, namely REITs.

The so-called REITs are trust funds that pool the funds of a specific majority of investors by issuing income certificates, and specialized investment institutions are engaged in real estate investment management, and the comprehensive income of investment is distributed to investors in proportion. Simply put, REITs, as asset securitization products, can bring stable income to real estate projects through concentrated investment, and provide investors with corresponding rental income and regular income from real estate rise. The important function of REITs products is to focus on real estate enterprises, with fixed rents and moving assets.