China’s Data Centers Are Plugging Into REIT-Style Financing Wave

China’s data center operators are tapping a fast-growing asset-backed security market, raising more than a billion dollars from investors hungry for higher yields.

The niche funding tool — known as holding-type real asset-backed securities — has seen rapid uptake since it was introduced less than three years ago. Almost 70% of total issuance has come in just the past six months, and volumes so far in 2026 have jumped more than tenfold from a year earlier, according to cn-abs.com, which tracks the local ABS market.