On 30 April 2020, the CSRC and NDRC published two major documents on Chinese Infrastructure REITs:
- "The Announcement on Pilot Program of the China Infrastructure REITs" ("Announcement"); and,
- " The Guidelines for the China Infrastructure REITs (Trial version)" ("Guidelines").
The introduction of an infrastructure REITs pilot program is a milestone for China.
The Asia Pacific Real Estate Association (APREA) is very supportive of the pilot program for infrastructure REITs, and we are keen to make an ongoing constructive contribution to discussions about fine-tuning China's infrastructure REIT model.
For many years, APREA has worked closely with Chinese regulators and government agencies to share the best international thinking on modern REITs and provide advice on REIT models that meet China's long-term needs.
The announcement of the pilot program is timely given the opportunity to utilize REITs as a mechanism for boosting economic activity following the COVID-19 pandemic.
This pilot program will not only assist China to restore economic momentum, it can also help the Chinese Government achieve its objective to build a "strategic infrastructure" that will strengthen economic resilience and support broader social goals.
A distinct feature of the pilot program is the inclusion of technology-oriented assets such as logistics facilities, data centers and industrial parks, which APREA warmly welcomes.
APREA has established a special technical advisory committee in China, which includes international and domestic REIT experts who are also prominent real estate industry leaders.
Please see the appendices to this submission for more details on APREA and its China advisory committee.
This APREA committee has considered the issues outlined in the Guidelines under seven topics and offers 19 specific recommendations for consideration by CSRC and NDRC.
亚太房地产协会（APREA）中国基础设施公募REITs《指引》征求意见书
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