我国铁路基础设施公募REITs的法律构想  

Legal Conception of Public REITs for Railway Infrastructure in China

作　　者：宋纪萍[1] Song Jiping

机构地区：[1]郑州大学法学院,河南郑州450001

出　　处：《中州学刊》2024年第9期76-81,共6页Academic Journal of Zhongzhou

基　　金：河南省哲学社会科学规划项目“米字形高铁项目融资REITs模式及立法完善建议”(2023BFX021)。

摘　　要：基础设施REITs作为创新融资模式的重要手段,具有降低负债水平、盘活存量资产的优势,可以有效缓解当前铁路行业面临的融资模式单一、负债规模大、资产流动性差的困境。在政策推动下,目前REITs试点工作稳步推进,但在立法层面尚未出台专门的REITs立法,主要依据部门规章和规范性文件对REITs进行调整。现有立法状况存在立法层级低、投资者利益保护制度不完备、税收优惠制度不匹配等问题。铁路基础设施积极尝试公募REITs融资的同时,还应积极防范相关法律风险。As an important means of innovative financing model,infrastructure REITs has the advantages of reducing debt level and revitalizing stock assets.They can effectively alleviate the current difficulties faced by the railway industry,such as a single financing model,large debt scale,and poor asset liquidity.At present,the pilot work of REITs is advancing steadily under the promotion of policies,but there is no specific legislation on REITs at the legislative level.The adjustment of REITs is mainly based on departmental regulations and normative documents.The current legislative situation has problems such as low legislative hierarchy,incomplete investor protection system,and mismatched tax preferential system.While actively attempting public REITs financing for railway infrastructure,it is also necessary to actively prevent related legal risks.

关 键 词：铁路基础设施 REITS 公募 

分 类 号：F830[经济管理—金融学]