Photo taken on Sept. 30, 2021 shows the night view of southwest China's Chongqing. (Xinhua/Liu Chan)
BEIJING, June 10 (Xinhua) -- The first infrastructure real estate investment trusts (REITs) in southwest China's Chongqing Municipality have been approved for registration by the China Securities Regulatory Commission (CSRC), according to Chongqing Municipal Commission of Development and Reform.
The REITs in Chongqing were approved for the construction of Yusui expressway, which connects the two major cities of Chengdu and Chongqing and plays an important role in accelerating the construction of Chengdu-Chongqing economic circle.
With a total estimate value of 4.612 billion yuan, the project has two original equity holders, China Railway Construction Chongqing Investment Group Co., Ltd. and Chongqing Expressway Co, which hold 80 percent and 20 percent of the shares respectively.
According to relevant person in charge of Chongqing Municipal Commission of Development and Reform, the success of the Yusui REITs project marks a new path for direct infrastructure financing in Chongqing and a breakthrough in investment and financing model innovation. In the next step, Chongqing will continue to encourage eligible infrastructure projects to participate in REITs pilot.
As an important approach to realizing real estate securitization, REITs collect investors' funds and hand them over to professional investment institutions for real estate investment management.
(Edited by Gao Jingyan with Xinhua Silk Road, gaojingyan@xinhua.org)
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