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From Pilot to Permanent: China on Track for Constructing Multi-tiered REIT Market
China’s REIT market is entering a new phase of development as regulators expand eligible asset classes, accelerate approval processes, and build a multi-tiered ecosystem spanning pre-REITs, private REITs, and public REITs. The introduction of commercial property REITs and the rapid growth of private REITs are broadening opportunities across retail, office, hospitality, data centres, logistics, and ...
China’s REIT market is entering a new phase of development as regulators expand eligible asset classes, accelerate approval processes, and build a multi-tiered ecosystem spanning pre-REITs, private REITs, and public REITs. The introduction of commercial property REITs and the rapid growth of private REITs are broadening opportunities across retail, office, hospitality, data centres, logistics, and other real asset sectors, while attracting a wider range of domestic and international sponsors. These reforms are strengthening capital recycling and exit pathways for asset owners, positioning China’s REIT market as an increasingly important channel for institutional capital seeking exposure to the country’s real assets sector.
Garcia Xia
Partner, Ernst & Young, Greater China
Garcia is an audit partner of EY Greater China. He has over 21 years of professional service experience. His clients are predominantly from the top-tier real estate investment funds and new economy real assets platforms. Garcia provides audit and related financial advisory services to real estate investment and managers, domestic and overseas IPOs, PreREITs and REITs. Garcia had long served as the Lead Audit Partner of a leading real assets management group listed in Hong Kong. He has also been leading a number of C-REITs issuance audits. During 2009 to 2011, Garcia worked in EY Manchester.
Garcia graduated from Shanghai International Studies University with Bachelor's degree in English Literature and holds a Master's degree in Business Administration from the University of Manchester. Garcia also holds the Certificate of Japanese Language Proficiency Test from the Japan Foundation.
Garcia is a member of both Chinese Institute of Certified Public Accountants and Hong Kong Institute of Certified Public Accountants. He is also a Certified Internal Auditor, a fellow member of Association of International Accountants and an ESG Analyst of London Chamber of Commerce & Industry. Garcia was awarded the Outstanding Certified Public Accountant in 2019 by the Shanghai Institute of Certified Public Accountants.
Garcia graduated from Shanghai International Studies University with Bachelor's degree in English Literature and holds a Master's degree in Business Administration from the University of Manchester. Garcia also holds the Certificate of Japanese Language Proficiency Test from the Japan Foundation.
Garcia is a member of both Chinese Institute of Certified Public Accountants and Hong Kong Institute of Certified Public Accountants. He is also a Certified Internal Auditor, a fellow member of Association of International Accountants and an ESG Analyst of London Chamber of Commerce & Industry. Garcia was awarded the Outstanding Certified Public Accountant in 2019 by the Shanghai Institute of Certified Public Accountants.
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