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SZSE Officially Launches the Technical System for Publicly Offered REITs

Date: 2021-02-25

SZSE has formally launched the technical system for publicly offered real estate investment trusts (REITs), with a view to steadily advancing the REITs pilot program and ensuring orderly running of businesses such as review and offline offering. In addition, the review system, information disclosure website and offline offering system will go live on March 1. This signifies that the preparatory work on technical side has been completed smoothly for the REITs pilot program, which will provide strong support to the steady issuance and listing of China's first REITs.

 

Since the notice of the REITs pilot program was released, SZSE, under the guidance of CSRC, has made proactive arrangements and preparations to expedite relevant technical system development on all fronts. First, establishing a review system that features transparency throughout the entire process. In addition to the REITs review function, SZSE launched the REITs information platform, leveraging its technical advantages to realize process-based and electronic review, thereby ensuring strict and standardized review and open and transparent business information. Second, building an offline offering system to raise efficiency. By drawing on the stock issuance and underwriting experience gained in the reform of the ChiNext Board and the pilot project of the registration-based IPO system, SZSE built an electronic platform dedicated for offline REITs issuance based on the offline inquiry and offering characteristics of REITs, in order to facilitate efficiency of offline inquiry and pricing, and subscription by investors. Third, establishing supporting functional modules for full lifecycle management. SZSE has set up functional modules of code application, issuance, listing and duration information disclosure for REITs to support the business function, providing reliable technical guarantee for the stable operation of REITs.

 

SZSE will make every effort in project review, offering, listing and supervision, and implement regulation in a more comprehensive, consistent, scientific and effective manner. In the meantime, SZSE will strive to work in an "open-minded, transparent, honest and strict" way, and comprehensively improve service quality and efficiency at all links, so as to ensure a good start of the REITs pilot program.