BEIJING, April 1 (Xinhua) -- The China Securities Regulatory Commission has approved the first batch of four infrastructure real-estate investment trusts (REITs) expansion projects, China's stock exchanges said.
Two of the infrastructure REITs expansion projects will be listed on the Shanghai Stock Exchange, and the other two on the Shenzhen Stock Exchange.
The Shanghai and Shenzhen stock exchanges said the landing of the REITs expansion projects is a key measure to further promote the regular issuance of REITs, as well as the healthy and standardized development of the market.
The projects will help accelerate the formation of a virtuous cycle of stock assets and new investment, expand effective investment, and promote high-quality development of infrastructure, the stock exchanges said.
So far, a total of 18 public REITs have completed their initial offerings on the Shanghai Stock Exchange, raising nearly 66.68 billion yuan (about 9.7 billion U.S. dollars), while the Shenzhen Stock Exchange has raised some 24 billion yuan from nine REITs that went public.
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