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With the official implementation of the "Notice on Comprehensively Promoting the Regular Issuance of Real Estate Investment Trust (REITs) Projects in the Infrastructure Field" issued by the National Development and Reform Commission on August 1, my country's infrastructure REITs market has since opened a new chapter of regular issuance.

Since the launch of the infrastructure REITs pilot in April 2020, my country's REITs market has been developing steadily and a multi-level REITs market system has taken shape. Among them, public REITs have taken the lead. From the perspective of the primary market, driven by the dual-wheel development pattern of "initial issuance + expansion", the number of public REITs issued and the scale of fundraising have continuously set new historical highs; from the perspective of the secondary market, public REITs products have achieved a deep reconstruction of pricing logic. In the dynamic process of repricing, the market pays more comprehensive attention to asset management, asset valuation and the operating rules of the secondary market.

It is already a matter of time for my country's multi-level REITs market to achieve "catch-up" and accelerate the full marketization of products. Further activating the vitality of the multi-level market and stimulating the ability to revitalize existing assets will become one of the important tasks in the next step of my country's multi-level REITs market construction. (Securities Daily)