从国际比较视角看现阶段我国基础设施REITs突破关键  

The Key of China’s Infrastructure REITs Breakthrough from the Perspective of International Comparison

作　　者：吴丹 Wu Dan

机构地区：[1]中国银行总行研究院

出　　处：《开发性金融研究》2024年第6期3-11,共9页Development Finance Research

摘　　要：近年来,我国基础设施公募REITs基金快速发展,底层资产稳步扩容,定价机制有序优化,对多层次资本市场质效提升、更好地服务实体经济有重要意义。参考海外REITs市场经验,我国基础设施公募REITs具有投资标的更聚焦、产品收益更稳定、风险控制更完备等优点,但也存在权益属性有待提高、底层资产类型与基金结构可进一步优化与完善等问题。未来我国基础设施公募REITs市场有十分广阔的探索空间,需不断厘清相关问题,加快完善REITs市场机制设计,推动基础设施投融资市场更规范、更健康发展。In recent years,China’s infrastructure public REITs fund has developed rapidly,the underlying assets have been steadily expanded,and the pricing mechanism has been orderly optimized,which is of great significance for improving the quality and efficiency of the multi-level capital market and better serving the real economy.Referring to overseas REITs market experience,China’s infrastructure public REITs have the advantages of more focused investment targets,more stable product returns,and more complete risk control,but there are also problems such as equity attributes to be improved,and underlying asset types and fund structures can be further optimized and improved.In the future,China’s infrastructure public offering REITs market has a very broad space for exploration,and it is necessary to constantly clarify relevant issues,accelerate the improvement of the REITs market mechanism design,and promote the more standardized and healthy development of the infrastructure investment and financing market.

关 键 词：基础设施 公募REITs 权益融资 存量盘活 

分 类 号：F832.51[经济管理—金融学] F283