Consumption REITs THE securities regulator approved Sunday three applications to launch the country’s first publicly traded commercial real estate investment trusts (REITs) products, backed by consumption-related infrastructure projects. The first batch of such approvals for commercial REITs by the China Securities Regulatory Commission is backed by properties owned by SCPG Holdings Co., Shanghai Xingxiumao Business Management Co. and the commercial unit of China Resources Land, according to information from Shanghai and Shenzhen stock exchanges. Shopping malls, supermarkets and other retail-focused properties generally come under the so-called consumption-related infrastructure projects. Share reduction THE Beijing Stock Exchange has asked major shareholders of listed firms not to reduce holdings even if they are eligible to do so, for fear that a surge in stake-selling could dull market excitement, sources said. The guidance comes as stocks listed on the Beijing bourse have surged on the back of supportive measures. The Beijing Stock Exchange 50 Index ended up 11.41% yesterday following last week’s 21% surge. | 