The first order in the west!Guojin China Railway Construction REIT is listed today, and China's REITS market has issued a scale to a new level of 50 billion yuan

Wen | Chang Xueyu

On July 8th, the first single infrastructure REITS of the West -Guojin China Railway Construction REIT was listed on the Shanghai Stock Exchange. "Guojin China Railway Construction REIT, as the first single REITs in the West, has been fully covered in the improvement of the REITS market pilot area, promoting a series of national strategy implementation , It has important demonstration significance. "Liu Ye, deputy general manager of Shanghai Stock Exchange, said at the listing ceremony. As one of the world's most powerful super -large comprehensive construction groups, China Railway Construction has strongly promoted transportation The innovation of investment and financing scale in the infrastructure field has supported the implementation of the strategy of transportation power, and also provided central enterprises with a successful example of active stock assets and expanding effective investment. On the first day of the listing of Guojin China Railway Construction REIT, the market performed smoothly. As of the afternoon closing, it rose by 0.09%, and the turnover reached 143 million yuan. Guojin China Railway Construction REIT clearly disclosed the public information of the expansion plan. The Guojin China Railway Construction REIT was established on June 27, 2022, and the raising scale reached 4.793 billion yuan. The infrastructure project intends to invest in the Chongqing section and its auxiliary facilities in the Chongqing section and its auxiliary facilities. Guojin China Railway Construction REIT has received widespread attention from all parties in the market during the raising. According to the results of the recognition of the subscription application, public investors subscribe for 1.535 billion copies (before the proportion), with a distribution ratio of about 2.45%; online investor subscription share 2.7153 billion copies (before the proportion), with a sales ratio of about 3.22%; strategic matching and sales of 375 million copies, 100%of the distribution ratio. Guojin China Railway Construction REIT adopts a closed operation, with a duration of 40 years. The cash flow mainly comes from the traffic income of traffic flow. The annual income distribution ratio is not less than 90%of the annual distribution amount of the fund after the merger. As the main listing platform of Railway Construction Group, China Railway Construction holds many high -quality infrastructure assets. Guojin China Railway Construction REIT applies for the establishment of the Yusui Expressway (Chongqing section), which is re -voted for the Railway Construction of the subsidiary of its system, and will also include more high -quality assets into the REITS fund platform in the future. At the same time, the renovation of Guojin China Railway Construction REIT underlying asset project has been incorporated into multiple related plans during the "Fourteenth Five -Year Plan" period, and the possibility of reconstruction and expansion is high. In the current public offering REITs, it is clearly disclosed that the expansion plan is exposed. According to Liu Ye, the Shanghai Stock Exchange attaches great importance to the pilot work of infrastructure REITs, and has always put infrastructure REITs in the overall planning of the capital market reform, and continuously improves the quality and efficiency of the Reist to serve the real economy and national strategy. Recently, the Shanghai Stock Exchange has released REITS expansion rules to support the good REITS products to be better and stronger through expansion mechanisms, improve the positive incentive mechanism, and initiate the establishment of the Yangtze River Delta Infrastructure Reist Industry Alliance to gather market advantageous resources to give full play to each of them. Fang Heli jointly promoted the healthy development of REITs. The number of REITS issuance throughout the year may exceed last year that "with the successful listing of Guojin China Railway Construction REIT, the distribution scale of the REITs market in China reached 50.6 billion yuan, which has reached a new level of 50 billion yuan." The National Development and Reform Commission Han Zhifeng, deputy director of the Investment Department, said at the listing ceremony that since this year, the infrastructure REITs work has made many major progress. First, policy support: The Shanghai and Shenzhen Exchange issued the guidance of new infrastructure projects for infrastructure REITs, respectively. The National Development and Reform Commission has also studied related work on expanding and will issue relevant work notice in recent days. The second is the market operation: Since the REITS project is launched, the overall trend is stable, the transaction is relatively active, and the social response is good. Especially since June 21 this year, after the first batch of projects related to strategic investors' transactions were lifted, the market is still in a smooth running state. The third is to support effective investment: as of now, 13 infrastructure REITS projects have been launched and listed, with a total distribution scale of more than 50 billion yuan, and the net recycling funds directly used for new investment have exceeded 20 billion yuan, which can drive new project investment to approach close 300 billion yuan is conducive to expanding effective investment and making positive contributions to stabilizing economic growth. Han Zhifeng introduced, "In the next step, the National Development and Reform Commission will strengthen cooperation with relevant parties such as the China Securities Regulatory Commission, the Stock Exchange and other relevant parties according to their responsibilities, further improve work efficiency, promote market cultivation, and create a good policy for the healthy development of infrastructure REITs. And the market environment. "In fact, since this year, benefiting from the escort of policies, in addition to obtaining substantial breakthroughs in expansion, public offering REITs has also accelerated significantly. As of July 8th, three public offering REITs, including Huaxia China Communications REIT, Guojin China Railway Construction REIT, Penghua Shenzhen Energy Reit, have been approved. According to data from the Shanghai and Shenzhen Exchange Lineup and review. The person in charge of the Real Estate Investment Department of a public fund company in North China told the reporter of the Securities Daily that in general, the issuance rhythm of the public offering REITs in the first half of this year is relatively stable. about. Tian Lihui, dean of the Institute of Finance Development of Nankai University, predicts that the number of Reits issued this year may exceed last year in an interview with the reporter of the Securities Daily.

From the perspective of specific types of assets, the aforementioned person in charge predicts that "the main force of the public offer REITs pilot this year is launched in new industries and new areas. It is expected that in the second half of the yearIt is also worth looking forward to projects in the fields of cultural tourism and rail transit. "In Tian Lihui's view, projects in power -related industries such as energy storage power stations and water scenery are expected to benefit.Recommended reading

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