The Shanghai Stock Exchange issues the "Business Measures for Publicly Offered Infrastructure Securities Investment Funds (REITs) (Trial)"

On December 31, the Shanghai Stock Exchange released the "Business Rules for Publicly Offered Real Estate Investment Trust Funds (REITs)" (Trial), mentioning that if a real estate fund intends to be listed on the Shanghai Stock Exchange, the fund manager must submit a listing application for the real estate fund to the Exchange, which will review whether it meets the listing conditions; the asset-backed securities manager must also submit an application for the listing of real estate asset-backed securities to the Exchange, which will confirm if it meets the relevant conditions. Real estate funds applying for listing on the Exchange must comply with the "Fund Guidelines" and the "Commercial Real Estate Fund Announcement" as well as the conditions stipulated by the Exchange. Real estate asset-backed securities applying for listing on the Exchange must also comply with the "Fund Guidelines," "Commercial Real Estate Fund Announcement," and the "Regulations on Asset Securitization Business Management." The Exchange stated that in order to promote the development of real estate funds, it will temporarily exempt real estate funds from listing initial fees, annual fees, and trading fees. The original text mentions the rules and procedures for publicly offering real estate investment trust funds (REITs) on the Shanghai Stock Exchange, outlining the requirements for listing these funds, the application process, and the conditions that must be met. It also discusses the exemptions from certain fees to promote the development of real estate funds. The document provides detailed guidelines for the listing and trading of these funds, as well as the responsibilities of fund managers and other entities involved in these transactions. Please let me know if you need more information or further clarification.