Shanghai Stock Exchange Holds Inter-Institutional REITs Training as Issuance Surpasses Full-Year 2024 Total

The exchange hosting training rather than simply publishing rules signals a deliberate push to widen the institutional buyer base, not just to clear a backlog of approvals. That insurance and wealth management money is cited as the marginal demand matters more than the issuance record itself: it implies the asset class is being evaluated on duration matching and valuation stability, the criteria that govern real balance-sheet allocation. Whether that participation broadens beyond the current buyer mix, and whether supply keeps pace with it, is the open question.