China May Start Real Estate Trusts in Second Half, China Daily Reports
China may introduce real estate investment trusts, or REITs, by the second half of this year, the China Daily reported today, citing unidentified people familiar with the matter.
The plan to introduce REITs is awaiting final approval from the State Council after having received approvals from relevant ministries, the Beijing-based English-language newspaper reported. Investments in REITs may initially be limited to institutional investors, according to the report.
Shanghai may introduce the first REIT that isn’t publicly traded, the newspaper reported.