A Case Research On CICC-ProLogis REITs Financing Mode

On June 21,2021,The first batch of publicly offered infrastructure real estate trusst funds(Real Estate Investment Trusts,hereinafter referred to as REITs)of our country was officially issued and listed on the Shanghai Stock Exchange,which means that our country’s real estate investment trust fund field has gotten into a new development stage.Infrastructure construction has played a vital role in our country’s national economy.The development of public offered REITs financing model for infrastructure financing is not only conducive to alleviating government debt,revitalizing principal assets,but also assisting enterprises to reduce operating burdens,Meanwhile,it can also provide capital markets and investment.provide new investment targets.At present,our country’s public infrastructure REITs are still in their infancy compared to overseas markets.Domestic research on public infrastructure REITs mainly focuses on the investor’s perspective,and there are few studies on the financing model of public infrastructure REITs combined with specific case.For the sake of the great significance of the first batch of public infrastructure REITs to our country’s capital market and the field of infrastructure financing,it will have a very beneficial demonstration effect for other enterprises in our country to expand financing paths in the future.Therefore,it is necessary to study the financing model of infrastructure REITs.This paper selects CICC-Pro Logis REITs,the largest public infrastructure REITs issued on the Shanghai Stock Exchange this time for analyzing.By building a reasonable and efficient transaction structure,CICC-Pro Logis REITs successfully raised funds of 5.835 billion yuan and improved the operating conditions of the asset side.This paper firstly sorts out the relevant theories of infrastructure REITs through literature research method,case analysis method and comparative analysis method,and then conducts a multi-angle research and analysis on the financing model of CICC-Pro Logis REITs.Finally,through the research above,it is concluded that the financing model of CICC-Pro Logis REITs can effectively revitalize the stock assets,and provides experience for the issuance of similar products,but there are also some potential problems,and in view of the above conclusions,put forward the following Recommendation:Strengthen the supervision and information disclosure of the asset side,strictly control the quality of the underlying assets and the issuance process,and further improve the relevant support policies and taxation systems.