The CSRC issued Guidelines for Publicly-offered Infrastructure Securities Investment Funds (Trial) on August 7, effective from the date of promulgation. Publicly-offered REITs are defined as an exchange-listed closed-end funds which invest more than 80% of its assets in infrastructure-focused asset-backed securities and distribute to its investors no less than 90% of the revenue generated by the fund manager’s management and operation of the infrastructure. Range of infrastructure is wide in the pilot program which contains utilities, tollway and warehousing and logistics facilities and so on.
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