CSRC: Continuously increase the supply of high-quality REITs, improve the arrangements for REITs' expansion and market-based pricing mechanisms.

On December 31st, the China Securities Regulatory Commission issued a notice regarding the promotion of high-quality development in the Real Estate Investment Trusts (REITs) market. It proposed advancing market expansion and diversification, continuously increasing the supply of high-quality REITs, promoting the market's continuous enrichment of formats and orderly growth in scale. Improving the system arrangements for REITs expansion and market-based pricing mechanisms, actively exploring diverse and efficient paths for expansion. Supporting stable operations, effective governance, and high-quality information disclosure of listed REITs, to strengthen their asset size and risk resilience through asset acquisition, expansion, mergers, and orderly enhancement, continuously enhancing their intrinsic driving force for long-term value creation. Treating various ownership enterprises equally, supporting private enterprises in reviving existing assets through REITs and expanding equity financing channels. For the full text and the rest of the translation, please visit the China Securities Regulatory Commission website.