Feasibility analysis of REITs projects in Beijing's water sector
By the end of 2023,PPP has transformed from suspension to fully user paid franchising.The Guiding Opinions on Standardizing the Implementation of New Mechanisms for Government and Social Capital Cooperation(State Council Let-ter[2023]No.115)proposes to actively support eligible franchising projects to issue Real Estate Investment Trusts(RE-ITs)in the infrastructure sector.In this situation,the management of local government debt has been further strengthened,making it increasingly difficult to borrow funds for the construction of new projects.It is of great significance to revitalize existing assets through REITs and raise construction funds for subsequent construction projects.This article introduces the basic situation of Beijing's water industry from four fields,i.e.,water supply,sewage,recycled water,and water conser-vancy engineering.It analyzes the obstacles in issuing infrastructure REITs in Beijing's water industry,explores the suita-bility of issuing infrastructure REITs,and proposes feasible solutions and policy recommendations.Meanwhile,it also puts forward an implementation path that is conducive to promoting the pilot of REITs in Beijing's water sector.
infrastructure REITswater sectorwater investment and financingproject planning
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