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Recently, the China Securities Regulatory Commission (CSRC) issued the "Announcement on Launching a Pilot Program for Commercial Real Estate Investment Trust Funds (Draft for Solicitation of Comments)", officially initiating the pilot program for commercial real estate REITs. The first batch of projects have been submitted for review and are set to be listed soon, with assets distributed in first-tier and new first-tier cities such as Beijing and Shanghai, covering various types including commercial complexes and office buildings. Currently, 77 REITs products have been listed across the market, with an issuance scale reaching RMB 207 billion, and their overall operation has been stable. The scale of China's REITs market has ranked first in Asia and second globally, and is steadily developing towards a larger and more diversified direction.
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