The revitalization stock drives the innovation of effective investment and investment and financing

Original title: Multi -project competes for infrastructure REITs pilot to expand to activate the existing investment and financing system innovation

Since the launch of the first batch of products in June 2021, infrastructure REITs (Real Estate Investment Trust Fund) pilot has been piloted for one year. With the launch of the standardized and orderly development of the REITS business of affordable leased housing recently, and the release of infrastructure REITs expansion guidelines, the REITS pilot has also entered a new stage of development. A reporter from the Economic Reference News recently learned that multiple infrastructure projects represented by High -tech Industrial Park are accelerating the pace of public offering REITs pilot declaration, and the REITS pilot is also further promoted in the direction of diversified expansion (more cleanliness cleaning Energy and new infrastructure projects are expected to participate in the pilot). Looking forward to the future, the driving force for the release of REITs will be further strengthened, and REITS issuance will also accelerate.

Multiple infrastructure projects are accelerating the application pilot

Since the official launch of the pilot in June 2021, the infrastructure public offering REITs has continued to attract market attention. As of now, product projects that have been issued have involved infrastructure such as warehousing and logistics, transportation facilities, pollution control, and industrial parks. And these are just beginning, and more REITS projects are ready to go. The reporter learned in the interview that at this stage, multiple infrastructure projects are accelerating the pace of public offering REITs pilot declaration.

Taking the industrial park project as an example, the Xi'an High -tech Zone Infrastructure Construction and Development Co., Ltd. intends to apply for REITs with its software new city industrial park assets. The underlying asset valuation and fund issuance scale of the project are expected to reach 1.5 billion to 1.6 billion yuan.

Coincidentally. At present, the Hefei High -tech Zone project has passed the review and reform of the Anhui Provincial Development and Reform Commission and the pre -review of the National Development and Reform Commission. It is performing the recommendation process of the National Development and Reform Commission. It is expected that it will be recommended to the CSRC for review in June. "As an enterprise in Hefei High -tech District, the issuance of infrastructure public offering REITs can fundamentally solve the problem of the continued healthy development of the company Tang Renyong, manager of the Finance and Financing Department of the Co., Ltd., told reporters.

The relevant person in charge of the Torch Center of the Ministry of Science and Technology stated that "the REITS project of the park provides a diversified financing channel for the upgrade and development of the park, and we are accelerating the pilot of the national high -tech zone. Among them, it is expected to add 3 to 5 national high -tech zone Reits projects in 2022. "

"Diversified" expansion to speed up

It is understood that as of the end of May 2022, a total of 12 products in domestic infrastructure public offer REITs were successfully released. Recently, Guojin Railway Construction Chongqing Yusui Highway closed infrastructure securities investment fund officially received a letter of approval by the Securities Regulatory Commission, which also means that the 13th public REITs product in the market will be officially implemented.

It is worth noting that with the excavation of more existing infrastructure, the REITS pilot type expansion has been accelerated. A few days ago, the CSRC and the National Development and Reform Commission jointly issued the "Notice on Regulating the Relevant Work of Reactor Fund (REITs) in the field of pilot housing pilot housing pilot housing in the field of pilot housing for affordable rental housing." Subsequently, the affordable rental housing of Xiamen Anju Group Co., Ltd. and the affordable rental housing REITs of Shenzhen Talent Anju Group Co., Ltd. were queued for review at the Shanghai Stock Exchange and Shenzhen Stock Exchange, respectively.

Zhang Yan, executive director of the China REITS Research Center of Peking University Guanghua School of Management, said, "In the process of large -scale promotion of affordable rental housing construction, a large amount of high -quality assets formed in the early stage of REITs can be rejuvenated to the new project. Fund pressure, forming a virtuous cycle of investment. "

According to Wei Dong, the chief policy analysis expert of Dade Liangxing and the head of the North District Research Department, the launch of the pilot of affordable rental housing REITs has taken the substantial step of the diversified expansion of infrastructure REITs. She said that clean energy, new infrastructure and other industries are also actively participating in infrastructure REITs pilots. It is expected that more infrastructure public offer REITs will be approved to launch the market this year to provide more powerful financial support for the construction of new projects.

"It is expected that the motivation of the original equity to issue REITs will be further strengthened. With the current situation of the regulatory caliber, the future issuance of REITS will be accelerated." Although the REITs market is relatively hot, the market will be further differentiated.

Valid investment for revitalizing stock

A few days ago, the General Office of the State Council issued the "Opinions on Further Effective Investment on the Expansion of the Assets of Stocks" and proposed that focusing on key areas, key areas, and key enterprises, effective trading of stock assets, forming a virtuous cycle of stock assets and new investment. Promote the healthy development of the real estate investment trust fund (REITs) in the infrastructure sector, further improve the recommendation and review efficiency, and encourage more qualified infrastructure REITS projects to issue and listed.

Zhang Yan said that REITs piloted the dilemma of the equity financing of infrastructure companies. The original equity person behind the distribution of products revitalized its stock assets through REITs, improved its financial structure, and drove a large -scale new investment.At the same time, under the framework of the existing laws and regulations, the innovation of the "public fund+ABS" model has fully received market verification.Zhou Yisheng said that REITs was sought after by investors in the case of the capital market.The first batch of 9 REITs listed has so far risen by more than 20%.

"There are still a large and high -quality existing infrastructure assets in China. Through the activity amount, it can expand effective investment and avoid the phenomenon of disorderly debt." Wei Dong said that according to the data of the National Bureau of Statistics, as of 2020, my country There are 2,592 ports with a total of more than 10,000 tons. Among them, many port areas are facing relocation or functions and industrial transformation and improvement. A lot of funds are required. These can be implemented through REITs.

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