China expanded a public real estate investment trust pilot program to include more types of commercial properties, a move aimed at supporting the nation’s consumers that is likely to also help out cash-strapped developers.
Regulators will broaden the REIT pilot and prioritize so-called “consumer-related infrastructure projects” such as department stores and shopping malls, according to a notice from the China Securities Regulatory Commission on Friday. The program was first expanded in mid-2021, when China began allowing not only infrastructure initiatives in the vehicles but also affordable rental properties, industry parks and logistics assets.