REITs在高速公路项目中的应用研究  

Research on the Application of REITs in Expressway Projects

作　　者：肖剑 XIAO Jian(Yunnan Transportation Development Project Management Co.,Ltd,Kunming 650228,China)

机构地区：[1]云南交发项目管理有限公司,云南昆明650228

出　　处：《建筑经济》2023年第5期64-68,共5页Construction Economy

摘　　要：发行基础设施公募REITs是我国基础设施投融资机制的重大创新,是坚持把发展经济的着力点放在实体经济上的具体实践。梳理自试点以来REITs产品发行条件和收益风险等投资属性特征,研究当前REITs在高速公路项目中的应用情况;围绕产品层面、底层资产层面面临的治理、税收、估值等问题,从优化设定公募REITs产品模式和税收政策,加强制度衔接和规范,发展高速公路全生命周期金融产品等方面提出相关对策建议。The issuance of public REITs for infrastructure is a major innovation in China’s infrastructure investment and financing mechanism,and a specific practice of sticking to the focus of economic development on the economic entity.This paper combs the investment attributes such as the issuance conditions and income risks of REITs products since the pilot project,focusing on the basic characteristics of expressway usufruct,study the governance,taxation,valuation and other issues faced by the current REITs product level and underlying asset level.This paper puts forward relevant countermeasures and suggestions from the aspects of optimizing and setting the public REITs product model and tax policy,strengthening the system convergence and standardization,and developing the expressway full life cycle financial products.

关 键 词：公募REITs 高速公路 原始权益人 双重代理人 资产估值 税收原则 

分 类 号：F426[经济管理—产业经济] F542