China close to kicking off long-awaited REITs market By Reuters – Investing.com
- Date: 18-May-2021
- Source: Investing.com
- Sector:Economy
- Country:Middle East
China close to kicking off long-awaited REITs market By Reuters – Investing.com
SHANGHAI (Reuters) - China is close to kicking off its long-awaited public REITs market, with regulators approving the first batch of nine real estate investment trusts that will raise an estimated 30 billion yuan ($4.7 billion) for infrastructure projects.
Late on Monday, the China Securities Regulatory Commission (CSRC) approved the registration of the nine REITs, which will channel investors' money into projects ranging from tollways and warehouses, to industrial parks and sewage plants.
The green light, which will allow China's first REITs to be sold and traded on stock exchanges, comes a year after Beijing announced plans for a pilot scheme.
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