FACTBOX-China gears up for REITs launch

HONG KONG, April 22 (Reuters) - In a move that will offer
Chinese developers more access to capital and investors another
way to put their money into property, China is expected to soon
launch its version of real estate investment trusts (REITs).
[ID:nTOE63C018]

The first China REITs will be traded among domestic
institutional investors in the interbank market, unlike
typically listed REITs in Australia and Singapore, such as
Westfield Group (WDC.AX) and Mapletree Logistics (MAPL.SI),
that are open to retail and foreign investors.

The following table lists the size of the major REITs
markets in Asia Pacific, including Hong Kong and Taiwan (as of
end-2009)
MARKET REIT MKT CAP NO. OF LISTED AVG DIV YLD 10-YR GOVT

(US$ BLN) REITS (%) BOND YLD
(%)
Australia 72.90 66 5.7 5.2
Japan 29.47 41 6.81 1.3
Singapore 20.63 21 7.74 2.3
Hong Kong 9.52 7 6.47 2.3
Taiwan 1.80 8 4.11 1.5

Source: CBRE Research, Australian Securities Exchange,
Reuters
(Reporting by Lee Chyen Yee, Joy Leung in HONG KONG and Eriko
Amaha in SYDNEY)
(See www.reutersrealestate.com for Reuters' global service for
real estate professionals)