Briefly

Nine REITs to begin trading on June 21

China's first batch of nine public infrastructure real estate investment trusts will start trading on Monday, according to announcements posted on the websites of the country's two exchanges. Five REITs will be traded on the Shanghai Stock Exchange, while the remaining four will debut on the Shenzhen Stock Exchange. The nine REITs have raised over 30 billion yuan ($4.68 billion) in total, the data showed. They are expected to channel investment into infrastructure projects such as highways, industrial parks, storage and logistics, and sewage treatment, among others. Earlier in April 2020, China initiated a pilot scheme on infrastructure REITs to deepen supply-side structural reform in the financial sector and enhance the capital market's capabilities in supporting the real economy.

Electricity use rises 12.5% last month

Electricity consumption, a key barometer of economic activity in the country, expanded 12.5 percent on a yearly basis in May as the country's economy continued to recover steadily, official data showed. Total power use was 672.4 billion kilowatt-hours last month, according to the National Energy Administration. In May, power consumption by primary and secondary industries rose 13.9 percent and 11.5 percent from a year ago, while that used by tertiary industries surged 23.4 percent on a yearly basis. The secondary industry was the major driver of growth in total power consumption during the period, contributing to around 65 percent of the total growth, said the NEA. Residential power consumption registered a 5.6-percent yearly increase in May.

China Daily - Xinhua