【财经网(博客,微博)专稿】记者 王熙喜 【Financial nets(blog,Micro bo)ZhuanGao】Reporter WangXiXi

　　8月9日，北京市保障性住房建设投资中心（简称“北京市保障房中心”）陈飞飞在电话中告诉记者，首个REITs可能明年初问世。

August 9,，Beijing affordable housing construction investment center（Referred to“Beijing security room center”）ChenFeiFei on phone told reporters，First REITs may be published early next year。

　　但他又称，产品发行的决定权不在他们手里，对于问世的概念是否是在市场挂牌，他拒绝回应。

But he said the，Product release of the the decision is not their hand，The concept is to come out in the market put up for sale，He refused to answer。

　　北京市住建委官员周二(8月7日)称，北京市住建委已提议启动可能是中国首个房地产信托投资基金(REITs)的试点，这或将有助于缓解中国保障房建设计划所面临的资金吃紧困难。北京市已将该议案提交给中国证监会审核。

Beijing is built appoint officials live on Tuesday(August 7,)says，Beijing is built appoint already offer start living may be China's first real estate investment trust funds(REITs)Of pilot，This or will help ease China security room construction plan faces a tight money problems。Beijing already will the bill submitted to the China securities regulatory commission review。

　　他指出，该REIT得标的资产将包括北京五个公租房项目中的2，000-3，000套住房。

He pointed out that，The REIT assets will be placing including Beijing five male rent two of project，000-3，000 homes。

　　陈飞飞表示，产品本身和政策都有待突破。早在2008年底，国务院明确提出要开展REITs试点，扩宽房地产融资渠道。但受制于重复征税等政策瓶颈，REITs融资成本较高回报率低，发展遇阻。

ChenFeiFei said，The product itself and policy are expected to be a breakthrough。As early as the end of 2008，Put forward under the state council to develop REITs pilot，Broaden the financing channels of real estate。But subject to double taxation policies such as bottleneck，REITs financing cost is higher rate of return is low，Development blocked。

　　国投瑞银基金(博客,微博)副总经理盛斌公开表示，保障房特别是公租房领域将是REITs突破的契机。由于保障房政府可适度给予一定的税收优惠、土地优惠政策，让REITs实现稳定合理的回报率，从而吸引投资者参与。

International trust &investment ubs fund(blog,Micro bo)Deputy general manager ChengBin said publicly，Security room especially male fields will rent is REITs breakthrough opportunity。Because the guarantee room government can moderate offer certain tax breaks、Land preferential policies，Let REITs realize the stable reasonable rate of return，To attract investors to participate。

　　但陈飞飞表示，公共租赁房虽然具有收益性房地产的特征，但租金回报偏低。据悉，北京目前公租房租金普遍低于市场20%－30%，很难满足REITs投资者对收益回报的要求。

But ChenFeiFei said，Public rental room while the characteristics of real estate has profitable，But the rental return low。It is reported，Beijing, at the moment, and generally lower than market rent rent 20%-30%，It is difficult to meet the REITs investors to revenue reporting requirements。

　　其次，将姓“公”的公租房转移到交易市场，产权属性或将改变，“所以政策上也需要突破，”陈飞飞表示。

second，Will last name“male”Male rent transferred to market，Property right attribute or will change，“So the policy also need to break through，”ChenFeiFei said。

　　首开股份(600376,股吧)（600376.SH）证券部万智斌告诉记者，该REITs项目确实主要由北京市保障房中心操刀。为有效破解保障性住房建设资金瓶颈问题，该中心2011年6月30日正式挂牌成立，由北京市财政直接以货币形式出资100亿元作为注册资本金。

First open shares(600376,Shares it)（600376. The SH）WanZhiBin stock certificate department told reporters，The REITs items really mainly by the Beijing municipal security room center fencing。For effectively break the bottleneck problem of affordable housing construction fund，The center on June 30, 2011 formally founded，By the Beijing financial directly with monetary form as a registered capital invested 10 billion RMB。

　　据北京市住房保障办公室发展规划处处长张国伟此前透露，北京去年保障性住房投资达到746亿元，今年共需投入资金规模将达到1000亿元。该中心总经理金焱在7月30日的《经济日报》撰文指出，资金来源的突破，除了财政支持、自我运营实现的资金（租金），还吸收社会投入的资金。北京市保障房中心与建设银行(601939,股吧)等7家商业银行签署了共计1250亿元综合授信额度的战略合作协议；中心发行了105亿元私募债，并由市国有资本金管理中心代发行100亿元私募债；再次北京今年计划发放100亿元的公积金贷款用于公租房建设、收购。

According to Beijing housing security office development plan after long deng said everywhere，Beijing last year reached 74.6 billion yuan investment affordable housing，Total investment this year to scale will reach 100 billion yuan。The center JinYan general manager in July 30《Economic daily》Writing about points out that，The source of funds breakthrough，In addition to financial support、Self realization of capital operation（rent），Still absorbing the social investment funds。Beijing security room center and the construction bank(601939,Shares it)The seven home commercial Banks signed a total of 125 billion yuan comprehensive line of credit strategic cooperation agreement；Center issued 10.5 billion yuan SiMuZhai，And the municipal state-owned capital management center and SiMuZhai issue $10 billion；Beijing again this year plan to issue 10 billion yuan of accumulation fund loan used for male rent construction、acquisition。

　　（证券市场周刊供稿）

（Securities market weekly contributors）