[photopress:Shanghai_Stock_Exchange.gif,full,alignright]The Shanghai Stock Exchange (SSE) is looking at a plan to launch real estate investment trusts (REITs) on its floor, in conjunction with an effort to further the development of derivatives to boost trading.
The SSE said in a statement that the bourse’s new research unit, set up last March, has been preparing for the introduction of REITs, public traded companies which own, develop or operate commercial properties. No timetable for the REITs was confirmed.
Nie Meisheng, chairwoman of the China Real Estate Chamber of Commerce, told a recent Sino-Singapore financing forum, ‘Increasing the proportion of money raised directly from the capital markets instead of from bank loans must be a top priority for further development of the country’s real estate industry, which is highly capital-intensive.’
She said that less than 2% of money raised by domestic real estate companies comes from direct financing.
Source: Shanghai Daily and WATAsia Research
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