The National Development and Reform Commission issued a list of industry scopes for Real Estate Investment Trusts (REITs) projects. The scope includes wind power, CECEP Solar Energy power generation, etc.

Recently, the National Development and Reform Commission issued a notice on the "Industry Scope List of Real Estate Investment Trusts (REITs) Projects in the Infrastructure Sector (2025 Edition)." Provincial development and reform departments and relevant central enterprises are required to adhere to the principle of selecting the best among the best, strictly control project quality, strengthen risk awareness, and ensure high-quality project declaration. The declaration scope includes clean energy projects such as wind power, CECEP Solar Energy power generation, hydropower, natural gas power generation, biomass power generation, nuclear power, etc.; energy storage facilities projects; clean, low-carbon, flexible, and efficient coal-fired power generation (including cogeneration of heat and power) projects; ultra-high voltage transmission projects, incremental distribution networks, microgrids, and charging infrastructure projects. Coal-fired power generation projects should meet one or more of the following conditions: the minimum power output under pure condensing conditions is below 30% of the rated load; co-combustion of low-carbon fuels such as biomass, hydrogen, and ammonia, with a co-combustion heat ratio of not less than 10%; equipped with large-scale carbon capture, utilization, and storage (CCUS) equipment, etc. Original text: Notice from the Office of the National Development and Reform Commission on Issuing the "Industry Scope List of Real Estate Investment Trusts (REITs) Projects in the Infrastructure Sector (2025 Edition)" Development and Reform Commission Investment [2025] No. 991 Provincial, autonomous region, municipality directly under the Central Government, plan-listed city, and Xinjiang Production and Construction Corps Development and Reform Commissions, relevant central enterprises: In order to implement the decisions and arrangements of the Central Committee of the Communist Party of China and the State Council, in accordance with the requirements of the "Opinions of the CPC Central Committee and the State Council on Promoting High-Quality Urban Development," the "Opinions of the General Office of the CPC Central Committee and the State Council on Continuously Promoting Urban Renewal Action," as well as the "Special Action Plan to Boost Consumption" issued by the General Office of the CPC Central Committee and the State Council, and to better play the role of real estate investment trusts (REITs) in the infrastructure sector, revitalize existing assets, and promote investment in a virtuous cycle. The NDRC has further expanded the issuance scope of infrastructure REITs and formulated the "Industry Scope List of Real Estate Investment Trusts (REITs) Projects in the Infrastructure Sector (2025 Edition)" (referred to as the "List"). It is now issued to you for implementation. Projects that meet the conditions within the scope of the "List" should be reported in strict accordance with the requirements of the "Notice of the National Development and Reform Commission on Promoting the Normalized Issuance of Real Estate Investment Trusts (REITs) Projects in the Infrastructure Sector" (Development and Reform Investment [2024] No. 1014) and other relevant policies during the normalized issuance recommendation phase. Provincial development and reform departments and relevant central enterprises should adhere to the principle of selecting the best among the best, strict project quality control, strengthen risk awareness, and ensure the high-quality preparation of project declarations. The NDRC will revise the "List" in a timely manner according to new situations and new requirements, combined with opinions from all parties, and dynamically improve the requirements for project declarations to better play the role of infrastructure REITs in serving the development of the real economy. Office of the National Development and Reform Commission November 15, 2025 This article is compiled from the National Development and Reform Commission, GMTEight editor: Chen Wenfang.