Briefly

Consumption-linked REITs approved

China's top securities regulator has approved three applications for the country's first publicly traded consumption-related Real Estate Investment Trusts (REITs).Two of the three applications were submitted by China Asset Management, and the other one was from CICC Fund, according to the China Securities Regulatory Commission. In March, the CSRC unveiled new measures to foster REIT products, saying China will develop REITs for consumption infrastructure that can create improved conditions and scenarios for consumers.

Medical insurance funds thrive

China's basic medical insurance funds, including maternity insurance funds, earned a total revenue of around 2.62 trillion yuan ($368.2 billion) from January to October, data from the National Healthcare Security Administration showed. Revenue of basic medical insurance funds for urban employees, including maternity insurance, stood at 1.85 trillion yuan. Revenue of basic medical insurance funds for rural and non-working urban residents was around 768.36 billion yuan.

PBOC adds liquidity via reverse repos

China's central bank conducted 415 billion yuan ($58.34 billion) of seven-day reverse repos at an interest rate of 1.8 percent on Tuesday. The move aims to keep liquidity in the banking system stable at the end of the month, the People's Bank of China said in a statement. A reverse repo is a process in which the central bank purchases securities from commercial banks through bidding, with an agreement to sell them back in the future.

Xinhua - China Daily