Fred Wang, secretary general of the China REITs Alliance, joined REIT.com for a video interview during REITWeek 2015: NAREIT’s Investor Forum, held in New York.
The China REITs Alliance was launched in Beijing in December 2014 and is backed by a memorandum of understanding with NAREIT, the Asia-Pacific Real Estate Association (APREA) and the European Public Real Estate Association (EPRA).
Wang noted that the alliance includes financial institutions, developers, lawyers and brokerage firms. It aims to establish a functioning REIT industry in China.
Wang said the alliance sent a delegation to REITWeek in order to improve understanding of the industry.
Meanwhile, Wang noted that Chinese government officials had hoped to establish a REIT system about 10 years ago, but plans were thwarted by the financial crisis. New REIT products have started to emerge since last year, he said, offering promise that a REIT regime will become established in China.
“The industry is just emerging,” Wang said.