CSC: Five Departments Issue Guidelines Supporting Consumption Infrastructure, Commercial Real Estate Enters Asset Upgrade Phase

36Kr reports that a CSC research note states that on October 30, the National Development and Reform Commission and four other departments jointly issued the 'Guiding Opinions on Strengthening Consumption Infrastructure Construction and Promoting良性 Interaction between Consumption and Investment.' The guidelines support infrastructure development across six areas: renovation, services, transportation, circulation, green initiatives, digitalization, and security. Commercial real estate is now entering a phase of upgrading existing assets; the industry may become more segmented in the future, with light-asset brand operators, companies with ample capital and low financing costs, and those holding properties in prime locations expected to benefit first. The guidelines expand the positioning of REITs into a composite mechanism combining market-based exit options with operational standardization constraints, potentially further opening up market opportunities for consumption infrastructure and commercial real estate REITs.