Our reporter Wu Xiaolu
On November 10, China AMC China Resources Younest REIT's offline inquiry results were released.
The proposed offline subscription share participating in the inquiry is 213 times that of the offline offering, breaking the offline inquiry record of existing public REITs.
According to statistics, as of now, 23 publicly offered infrastructure REITs products have been wholesaled, of which 20 have been listed.
In addition, Huatai Jiangsu Traffic Control REIT and CICC Anhui Traffic Control REIT have completed the issuance and are pending listing, and China Asset Management China Resources Youchao REIT will be officially launched from November 14th to 15th.
At the end of August this year, the China Securities Regulatory Commission formally proposed ten measures to accelerate the normalized issuance of infrastructure REITs (referred to as the "Ten Measures for REITs"), including market cultivation, project selection and recommendation, review and registration, strengthening interim and ex post supervision, improving supporting policies, and safeguarding regulatory resources. The whole chain and whole process, such as configuration, clarified relevant policy arrangements.
"Securities Daily" reporters learned from people close to the regulatory authorities that the current "Ten REITs" work is progressing in an orderly manner. In the next step, the regulatory authorities will further expand the scope of the REITs pilot to cover new energy, water conservancy, new infrastructure, etc. as soon as possible. In the field, new energy projects are expected to be launched during the year; qualified private investment projects are encouraged to issue REITs; the first batch of expansion projects will be promoted as soon as possible.
On the whole, the assets of approved infrastructure REITs products cover various types such as toll roads, industrial parks, sewage treatment, warehousing and logistics, clean energy and affordable rental housing.
The 20 REITs that have been listed have raised a total of 61.8 billion yuan, which is mainly used in areas such as technological innovation, green development and people's livelihood to make up for shortcomings. The recovered funds have driven the investment in new projects to exceed 330 billion yuan, forming a good demonstration effect.
At present, the 20 listed infrastructure REITs on the Shanghai and Shenzhen stock exchanges are running generally stable and have a high degree of market recognition.
The data shows that as of the end of October, its total market value reached 70.6 billion yuan, an average increase of 22.93% compared with the issue price; the total market transaction volume was 13.884 billion copies, the total transaction value was 73.8 billion yuan, and the average daily turnover rate exceeded 2%. Liquidity is higher than mature markets such as Japan and Singapore.
The reporter learned from people close to the regulatory authorities that in the next step, the China Securities Regulatory Commission will continue to implement the ten measures for the normalized issuance of REITs, promote the revitalization of stock assets, and expand effective investment, focusing on the following five aspects: First, promote more High-quality projects will be issued and listed, further expand the scope of REITs pilot projects, and cover new energy, water conservancy, new infrastructure and other fields as soon as possible, forming scale and demonstration effects.
The second is to encourage qualified private investment projects to issue REITs, to promote the resolution of difficulties and problems existing in the participation of private enterprises in the pilot program, and to promote the implementation of relevant projects as soon as possible.
The third is to promote the implementation of the first batch of expansion projects as soon as possible, to promote the acquisition of assets by the listed high-quality operating entities through additional issuance of shares, to carry out mergers and acquisitions and reorganization activities, and to promote a virtuous circle of investment and financing.
The fourth is to learn from the experience of mature overseas markets and combine my country's national conditions to promote special legislation on REITs, improve the foundation of the rule of law, and promote the long-term healthy development of the market.
The fifth is to optimize supporting support policies, and promote long-term institutional investors such as national social security funds, basic pensions, enterprise annuities, and occupational annuities to participate in REITs investment, and provide medium and long-term financial support for revitalizing existing assets.
(Securities Daily)