REITs的国际对标分析与发展建议

International Benchmarking Analysis and Development Suggestions on REITs

不动产投资信托(REITs)是国际资本市场成熟产品,是优质不动产资产上市的主渠道。不同国家和地区的REITs虽然各有特点,但均具备一些共同的核心特征和产品优势,这是借鉴国际先进经验的基本遵循。我国已经启动基础设施公募REITs试点,取得了很好的示范效果。为积极推动REITs的批量落地,需要定型交易结构,完善法律制度,落实税收支持政策,激发不动产行业领先企业的积极性,适时扩大基础资产范围,推动投融资体制改革和金融行业供给侧结构性改革。

REITs is a mature product in the international capital market and the main channel for the listing of high-quality real estate assets.Although REITs of different countries and regions have their own characteristics,they all share some common core characteristics and product advantages,which is the basic principle of learning from international advanced experience.The pilot of infrastructure REITs has been launched in China and achieved good demonstration effects.In order to actively promote the mass landing of REITs in China,it is necessary to optimize the transaction structure,establish the legal system,implement tax support policies,stimulate the enthusiasm of leading enterprises in the real estate industry,expand the scope of basic assets in time,and promote the reform of investment and financing system and the supply side structure of the financial industry.