June 22 — Huaxia Poly Development Closed‑end Commercial Real Estate Investment
Fund (Huaxia Poly Commercial REIT) received CSRC registration approval and a
no‑objection letter from the Shanghai Stock Exchange. It is the first commercial
REIT sponsored by a central state‑owned enterprise and marks a securitization
milestone for Poly Development Holdings. Regulators say the REIT provides a
tradable commercial real estate investment option, establishes a benchmark for
asset recycling, and offers a replicable path for developers to unlock stock
assets and pursue asset‑light transformation, supporting the development of
China’s commercial real estate market and the public REITs industry.
