China's Shanghai Stock Exchange launched its first foreign-invested consumer REIT, raising 2.29 billion yuan above target, marking a key step in opening markets to international investors.

China's Shanghai Stock Exchange launched CapitaLand Commercial C-REIT, the first foreign-invested consumer REIT, raising 2.29 billion yuan above target. The milestone marks progress in opening China’s capital markets to international investors and signals a shift toward professional asset management. While consumer infrastructure REITs delivered 35% returns in early 2025, challenges remain including weak third-party oversight, inconsistent regulations, and limited market depth. Officials emphasize the need for stronger governance, expanded asset categories, digital investor protections, and long-term capital from pensions and insurers to sustain growth.