China Plans to Broaden Scope of REITs for Bolstering Property Sector

China plans to broaden the scope of real estate investment trusts, which raise funds to invest in property assets, as part of the government’s sweeping array of measures supporting the long-troubled sector, a senior official said Thursday.

The government will accelerate the development of affordable rental housing projects in the real estate investment trust (REIT) market and will consider expanding an REIT pilot program to include market-oriented long-term rental and commercial real estate sectors, said Li Chao, deputy director of the China Securities Regulatory Commission (CSRC).