发展保障性租赁住房公募REITs能力建设-中国名城

文章信息/Info

Title:: Developing the Ability of Issuing Public REITs for Government-subsidized Rental Housing

Keywords:: REITs; government-subsidized rental housing REITs; the development of rental housing market

摘要:: 2015年中央城市工作会议、2021年中央经济工作会议和2022年多次国务院常务会议，均对盘活存量资产提出明确要求，REITs（Real Estate Investment Trusts，不动产投资信托基金）是落实该要求的重要方式。自2021年起，我国启动REITs发行试点，截至2022年10月底，共有20支REITs成功发行，资产规模超过728.05亿元，涵盖保障性租赁住房、产业园区、高速公路、污水处理、仓储物流、垃圾焚烧发电等领域。《国务院办公厅关于进一步盘活存量资产扩大有效投资的意见》（国办发〔2022〕19号）指出，“助力盘活存量资产，拓宽保障性租赁住房建设的权益型资金来源，促进房地产市场平稳健康发展。”从保障性租赁住房REITs的概念、市场需求、发行必要性、可行性和发行能力建设进行论述，结合行业态势，提出我国发展保障性租赁住房公募REITs存在的问题和意见建议。

Abstract:: Urban works conference of central government in 2015, economy works conference of central government in 2021,and several executive meetings of the state council in 2022 all mentioned the clear requirements for reactivating the existing assets. REITs is the key way to implement this requirement. China has launched REITs as experimental work since 2021, and by the end of October 2022, a total of 20 REITs had been successfully issued in stock market, with the assets value of more than 72.805 billion yuan, assets including government-subsidized rental housing, industrial parks, highways, sewage treatment, warehousing logistics, waste-to-Energy Power etc. Guideline of The General Office of the State Council on Further Reactivating Assets and Expanding Effective Investment (No. 19, 2022) point out that government will assists holders to reactivate existing assets, and expand the sources of equity funding for the construction of government-subsidized rental housing and promote the steady and healthy development of the real estate market. This study discusses government-subsidized rental housing REITs from the concept, market demand, issuance necessity, feasibility and issuance capacity, and points out the existing problems and suggestions in combination with the industry situation.