REITs products or partial release

The focus of the real estate network recently hosted the "Real Property Trust investment fund start-up" forum, experts said, the domestic REITs products will be introduced in batches, in which the REITs products for institutional investors are expected to be "published" This October, and for retail REITs products may be delayed to next year. Fungko, executive vice director of Peking University Institute of Economics and director of real Estate Finance center, frankly, REITs's policy bottleneck has broken through, but the actual operation is still difficult, the main reason is the interests of the game between departments.　　The NDRC, the central bank, the CBRC and the SFC all have corresponding supervisory powers. However, the national Real estate Managers union deputy chairman and Secretary-General Yang that, although there is still a distance from the real REITs product launch, but for now, whether the policy "ice-breaking" or pilot battle, are a positive signal.　　The pilot projects in Tianjin, Shanghai and Shenzhen can enrich the financing tools and asset selection of the relevant developers. Citic Securities Real Estate Finance senior manager Hongshao pointed out that the direction of the REITs is clear, Citic side of the REITs product design has already started, is mainly targeted at institutional investors, the issue of products are mainly based on large developers in the first-tier city core commercial properties. She also said that real estate developers in need of funds tended to develop funds and hatchery funds, while REITs needed mature properties, high quality assets, stable cash flow, good rental rates and higher returns. In other words, REITs is unlikely to solve the financial constraints of developers, whose main role is to allow market investors to share the benefits of commercial real estate growth.