Qi Ji, vice-minister of housing, told a press conference that banking regulators were working on a plan to introduce Reits to stimulate the sagging Chinese property market, part of a larger effort by Beijing to support the domestic economy.
The listed property vehicles in theory offer investors predictable income streams and the chance for capital appreciation, but cannot be launched in China until the passing of specific legislation governing their structure, tax and other regulations.
Depending on their structure, the Reits could appeal to local retail or institutional investors, or potential foreign investors, and attract billions of dollars in extra capital into the sector.
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