Special fund sets new benchmark in Xi'an Hi-tech Zone

The Ping'an Xi'an Hi‑tech Industrial Park Real Estate Investment Trust (REIT) obtained registration approval from the China Securities Regulatory Commission on Aug 18.

As Shaanxi province's first local industrial park public REIT, its approval sets a new benchmark for capital market reform.

The REIT is Shaanxi province's first industrial park public REIT. [Photo provided to chinadaily.com.cn]

The project's underlying asset is located in Phase II of the Xi'an Hi-tech Zone Software R&D Base. It comprises 13 R&D buildings with a total construction area of 325,000 square meters and an assessed net asset value of nearly 1.29 billion yuan ($192.26 million). 

With the approval of this REIT, the industrial park's assets have been transformed into tradable and price‑determinable financial products. It marks a crucial milestone for the Xi'an Hi‑tech Zone's infrastructure investment and financing model, shifting it from "construction and operation" to a closed‑loop system featuring "investment, financing, and management".

The REIT will facilitate the construction of new facilities and industrial upgrading, help the Xi'an Hi‑tech Zone develop a regional hub for scientific and technological innovation and advanced manufacturing, and inject new vitality into the city's high‑quality economic development.