NAREIT in China

NAREIT senior executives traveled to China in March to meet with government, investment and market organizations in Beijing and to speak at the 2015 China Wealth Management Forum in Hangzhou. The NAREIT team consisted of Steve Wechsler, president and CEO; Mike Grupe, executive vice president for research and investor outreach; and Bonnie Gottlieb, senior vice president for industry and member affairs.

NAREIT's China outreach initiative supports efforts by Chinese government officials and other organizations to develop REIT-based real estate investment in China, to promote investment in U.S. REITs by Chinese investors and investment organizations, to inform Chinese real estate interests about joint business opportunities with U.S. REITs and to develop relationships with Chinese real estate and investment organizations. In particular, NAREIT has already developed important relationships with the Asset Management Association of China, the China Real Estate Association, the China Real Estate Chamber of Commerce and the China REITs Alliance.

In Beijing, NAREIT met with government officials, including Ji Zhihong, director general of the Financial Market Department at the People's Bank of China (PBOC); Gao Jianguang, deputy director of the Market Regulatory Division at the China Insurance Regulatory Commission (CIRC); Jianfan Wang, director general of the Tax Policy Department at the Ministry of Finance (MOF); and Ma Hongfan, deputy director of the Research Institute of Fiscal Science, a research affiliate of the MOF. In particular, both the MOF and the Research Institute of Fiscal Science are likely to play important roles in the development and authorization of REITs in China.

NAREIT also met with a number of important investment organizations, including the China Investment Corporation, the Insurance Asset Management Association of China, Taikang Asset Management Company, Huatai Asset Management Company, Harvest Capital Management Company, Lion Capital Management Company, CITIC Goldstone Fund Management Company, the China Asset Management Company and ICBC Credit Suisse Asset Management Company. Both Harvest Capital Management and Lion Capital Management currently offer mutual funds to Chinese investors for investment in listed U.S. REITs.

NAREIT also had meetings with the Shenzhen Stock Exchange and China REITs Alliance. In particular, the Shenzhen Stock Exchange is looking to play a major role when listed REITs are authorized in China.

Following the meetings in Beijing, Grupe was invited to speak at the 2015 China Wealth Management Forum held in Hangzhou. This provided an important opportunity for NAREIT to support the development of REITs in China and to promote investment in U.S. REITs by Chinese investors. The forum was a high-level wealth management industry summit jointly hosted by the Asset Management Association of China, the Securities Association of China, the China Futures Association, the China Securities Finance Corporation and the Hangzhou Municipal Government. Approximately 2,000 participants attended the Forum.

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