REITs on horizon, may tackle realty risks

Stepping up efforts to establish China's real estate investment trusts, or REITs, may be one of the fundamental solutions to rising financial risks of the real estate sector, policy advisers and experts said.

"It is imperative to develop a publicly offered REITs market," said Xiao Gang, former chairman of the China Securities Regulatory Commission, the top securities watchdog, and a national political adviser.

REITs could not only inject new economic growth momentum but help smooth out price fluctuations in the real estate market and improve financial market stability, Xiao said at the China REITs Forum 2019, held in Beijing in June.