Chinese Wealth Managers Join First Batch of Commercial Property REITs After Shanghai Listings

The first batch of commercial real estate public REITs began trading on the Shanghai Stock Exchange, marking China’s public REITs market expanding from infrastructure assets into commercial property, according to 36Kr. Days later, regulators approved a second batch of six closed-end commercial property REITs covering prime business districts in Beijing, Shanghai, Shenzhen and the Guangdong-Hong Kong-Macao Greater Bay Area, signaling a faster and more regular supply. Several bank wealth management subsidiaries, including ICBC Wealth Management and China Post Wealth Management, said they are participating in investments in the first batch of commercial property REITs. The report said bank wealth management funds are accelerating allocations to public REITs and are becoming an increasingly important buyer group alongside mutual funds and insurers.