China has approved its first onshore real estate investment trusts, in an attempt to channel fresh capital into infrastructure projects and give its ailing economy a much-needed boost.
A pilot scheme will be rolled out in the second half of 2020, after final guidelines are published at the end of June by the National Development and Reform Commission (NDRC), the state asset regulator. It will focus on infrastructure projects in five parts of the country: the industrial belts around Shanghai, Hong Kong and Beijing, the southern island of Hainan, and the new Xiong’an economic zone south of the capital.
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Eng-Kwok Seat Moey, DBS |
The scheme will be limited in scale at first.
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