Chinese officials plan to implement previously discussed plans to allow mainland property developers to raise capital through real estate investment trusts (REITs), the Financial Times reported. A vice minister of housing told a press conference that banking regulators are planning to use REITs to stimulate China’s troubled property market. While REITs offer investors many theoretical advantages, they cannot be used in China until their structure, tax, and other regulations are specified through legislation. Depending on how REITs are implemented, they could attract billions of dollars in extra capital to the sector and free mainland property developers from their current dependence on bank finance. The timing of the REIT pilot program remains uncertain, however. Huo Yingli, an offical at the central bank’s financial market department, noted that since so many different regulatory entities are involved, the process of submitting a specific plan to the State Council could take some time.