China Issues Policy Document to Speed Retail Innovation, Back IPOs and REITs

China's Ministry of Commerce (MOFCOM) and eight other departments issued policy guidance on accelerating innovation in the retail sector, including support for eligible new high-quality retail companies to list on stock exchanges, according to 36Kr. The document also backs qualified retail operators issuing asset-backed securities and commercial real estate investment trusts (REITs), and encourages financial institutions to roll out sector credit policies tailored to retail. It calls for promoting interest-subsidy loan policies for eligible retail operators as service-sector businesses, and supports eligible consumer-infrastructure projects such as department stores, shopping centers, community commercial facilities and farmers markets issuing infrastructure REITs. It also urges increased financial support for energy-saving, carbon-reduction upgrades and digital transformation of facilities and equipment, subject to legal compliance and controllable risks.