Translated from SSE REITs
To implement the policy requirements for promoting the regular issuance of infrastructure Real Estate Investment Trusts (REITs), enhance the quality and efficiency of capital market services for the real economy, and further boost the high-quality development of the REITs market, Shanghai Stock Exchange (SSE) held a two-day training on publicly offered infrastructure REITs business in Nanjing from December 19 to 20.
The training was conducted by experts from National Development and Reform Commission, China Securities Regulatory Commission, China International Engineering Consulting Corporation, SSE, fund managers, appraisal agencies, law firms, accounting firms, and other units, covering the full process of REITs business operations. The training included interpretation of policies for regular REIT issuance, key points in project review and evaluation, regulatory arrangements during the tenure, as well as practical aspects such as asset appraisal, legal compliance, and accounting treatment. The training received enthusiastic participation, with over 300 students from more than 190 units attending.
Since the first batch of publicly offered infrastructure REITs was listed on June 21, 2021, the REITs market has entered a new phase of quality enhancement and coverage expansion. Over the past three years, the SSE has continuously strengthened the ecosystem of the REITs market, making positive strides in expanding the types of REITs listed on the SSE, improving the rule system, and enhancing key mechanisms. Currently, the SSE has listed 35 publicly offered REIT products which raised 102.9 billion yuan in total, representing nearly 70% of the market size, covering six asset types including industrial parks and highways. During this period, the SSE has been advancing the information disclosure system and drawing on previous information disclosure practices and regulatory experience, and has successively formulated and released Interim Report Guidelines, Annual Report Guidelines, and Mid-term and Quarterly Report Guidelines, to improve the REITs information disclosure rule system and enhance the relevance, timeliness, and effectiveness of information disclosure. Additionally, the SSE has promoted the category-based supervision of REITs, supported good projects with favorable treatment, leveraged the positive role of REITs in the industry sector, and continuously advanced key mechanisms such as REITs governance and incentive-constraint system, expanded offering, information disclosure, and investor relations, achieving the coordinated development of both the investment end and financing end and promoting the virtuous cycle of the entire REITs market.
In the next step, under the guidance of National Development and Reform Commission and China Securities Regulatory Commission, the SSE will further leverage the important role of REITs in revitalizing existing assets and expanding effective investments to jointly promote the high-quality development of the infrastructure REITs market and enhance the SSE's capabilities and levels in serving the real economy and national strategies.
The above information is provided for reference purposes only and does not constitute investment advice.
