中国启动了商业产权试点REITs,以削减开发商的债务,促进房地产稳定。 China launches pilot commercial property REITs to cut developer debt and boost real estate stability.

中国启动了商业产权REITs试点方案,使对创收房地产的公共投资能够减少开发商的债务,改善流动性,并将重点从迅速扩张转向可持续经营。 China has launched a pilot program for commercial property REITs, enabling public investment in income-generating real estate to reduce developer debt, improve liquidity, and shift focus from rapid expansion to sustainable operations. 该倡议得到监管机构和证券交易所的支持,优先注重质量和风险管理,禁止为住宅土地购买和回报提供资金,其收益与政府10年债券收益挂钩。 The initiative, backed by regulators and stock exchanges, prioritizes quality and risk management, with proceeds barred from funding residential land purchases and returns tied to 10-year government bond yields. 它补充了中国现有的基础设施REIT市场,到2025年底,中国现有78个上市基金,价值219.9亿元,它支持更广泛的改革,稳定房地产部门。 It complements China’s existing infrastructure REIT market, which had 78 listed funds worth 219.9 billion yuan by late 2025, and supports broader reforms to stabilize the real estate sector.