{"id":12813,"date":"2022-03-25T11:19:28","date_gmt":"2022-03-25T03:19:28","guid":{"rendered":"https:\/\/cdo.develpress.com\/?p=12813"},"modified":"2022-04-18T16:59:40","modified_gmt":"2022-04-18T08:59:40","slug":"reits%ef%bc%9a%e7%be%8e%e6%97%a5%e7%ad%89%e5%9b%bd%e7%9a%84%e5%8f%91%e5%b1%95%e5%ae%9e%e8%b7%b5%e5%8f%8a%e5%af%b9%e6%88%91%e5%9b%bd%e7%a7%9f%e8%b5%81%e4%bd%8f%e6%88%bf%e8%9e%8d%e8%b5%84%e7%9a%84","status":"publish","type":"post","link":"https:\/\/cdo.develpress.com\/?p=12813","title":{"rendered":"REITs\uff1a\u7f8e\u65e5\u7b49\u56fd\u7684\u53d1\u5c55\u5b9e\u8df5\u53ca\u5bf9\u6211\u56fd\u79df\u8d41\u4f4f\u623f\u878d\u8d44\u7684\u542f\u793a"},"content":{"rendered":"<p style=\"text-indent:2em;\" class=\"p1\">\u738b\u745e\u6c11 \u4ee3\u4e3d\u4e39<\/p>\n<p style=\"text-indent:2em;\" class=\"p1\"><span class=\"s1\">\u8d77\u6e90\u4e8e\u7f8e\u56fd\u7684<\/span><span class=\"s2\">REITs<\/span><span class=\"s1\">\uff08<\/span>\u623f\u5730\u4ea7\u6295\u8d44\u4fe1\u6258\u57fa\u91d1<span class=\"s1\">\uff09\uff0c<\/span>\u521d\u8877\u662f\u4e3a\u5206\u6563\u7684\u4e2a\u4eba\u6295\u8d44\u8005\u63d0\u4f9b\u4e00\u4e2a\u6295\u8d44\u623f\u5730\u4ea7\u7684\u673a\u4f1a\uff0c\u5ba2\u89c2\u4e0a\u4fc3\u8fdb\u4e86\u5305\u62ec\u79df\u8d41\u4f4f\u623f\u5728\u5185\u7684\u623f\u5730\u4ea7\u53d1\u5c55\u3002\u4ece\u7f8e\u56fd\u3001\u65e5\u672c\u7b49\u56fd\u5bb6<span class=\"s2\">REITs<\/span>\u7684\u53d1\u5c55\u7ecf\u9a8c\u6765\u770b\uff0c \u907f\u514d\u53cc\u91cd\u5f81\u7a0e\u7684\u7a0e\u6536\u5b89\u6392\u4e3a<span class=\"s2\">REI Ts <\/span>\u6295\u8d44\u4eba\u63d0\u4f9b\u4e86\u6709\u6548\u6fc0\u52b1\uff0c \u800c\u5176\u53d1\u5c55\u5b9e\u8df5\u5bf9\u73b0\u9636\u6bb5\u6211\u56fd\u79df\u8d41\u4f4f\u623f\u878d\u8d44\u63d0\u4f9b\u4e86\u91cd\u8981\u542f\u793a\u3002<\/p>\n<p style=\"text-indent:2em;\" class=\"p2\">\u5236\u5ea6\u8d77\u6e90\u4e0e\u8fd0\u4f5c\u6a21\u5f0f<\/p>\n<p style=\"text-indent:2em;\" class=\"p1\">1.\u5236\u5ea6\u8d77\u6e90<\/p>\n<p style=\"text-indent:2em;\" class=\"p1\">\u7b2c\u4e00\u4e2a<span class=\"s2\">R E I Ts <\/span>\u662f\u7f8e\u56fd\u56fd\u4f1a\u5728<span class=\"s2\">1960<\/span>\u5e74\u901a\u8fc7\u7684\u623f\u5730\u4ea7\u6295\u8d44\u4fe1\u6258\u6cd5\u6848\uff08 <span class=\"s1\">R e a l E s t a t e Investment Trust Act<\/span>\uff09\u4e2d\u5b9a\u4e49\u5e76\u6388\u6743\u7684\uff0c\u8fd9\u4e00\u6cd5\u6848\u5141\u8bb8\u516c\u5f00\u52df\u96c6\u8d44\u91d1\u6295\u8d44\u4e8e\u623f\u5730\u4ea7\uff08<span class=\"s1\">\u4f46\u65e9\u671f\u7684R E I T s \u4e0d\u5141\u8bb8\u81ea\u884c\u5f00\u5c55\u623f\u5730\u4ea7\u7ecf\u8425\u548c\u7ba1\u7406<\/span>\uff09\uff0c\u5176\u521d\u8877\u662f\u4e3a\u5206\u6563\u7684\u4e2a\u4eba\u6295\u8d44\u8005\u63d0\u4f9b\u6295\u8d44\u5546\u4e1a\u623f\u5730\u4ea7\u7684\u673a\u4f1a\uff0c\u4f7f\u5f97\u666e\u901a\u4e2a\u4eba\u6295\u8d44\u8005\u80fd\u591f\u4eab\u6709\u4e0e\u76f4\u63a5\u6301\u6709\u7269\u4e1a\u76f8\u4f3c\u7684\u6295\u8d44\u6536\u76ca\u3002\u6b64\u524d\uff0c\u53ea\u6709\u7ecf\u6d4e\u5b9e\u529b\u96c4\u539a\u7684\u5bcc\u4eba\u624d\u80fd\u76f4\u63a5\u6295\u8d44\u5546\u4e1a\u623f\u5730\u4ea7\uff0c\u666e\u901a\u4e2a\u4eba\u6295\u8d44\u8005\u4ec5\u80fd\u901a\u8fc7\u5927\u578b\u91d1\u878d\u4e2d\u4ecb\u673a\u6784\u8fdb\u884c\u3002<span class=\"s1\">REITs<\/span>\u4e5f\u53ef\u4e3a\u623f\u5730\u4ea7\u5e02\u573a\u63d0\u4f9b\u5927\u91cf\u7684\u79c1\u4eba\u8d44\u672c\uff0c \u8fd8\u88ab\u8ba4\u4e3a\u662f\u4e00\u79cd\u7a0e\u6536\u5ef6\u8fdf\u5de5\u5177\u3002\u7f8e\u56fd\u73b0\u4ee3<span class=\"s1\">REITs<\/span>\u7684\u57fa\u7840\u662f<span class=\"s1\">1986<\/span>\u5e74\u7684\u300a\u7a0e\u6536\u6539\u9769\u6cd5\u6848\u300b\uff0c \u622a\u81f3<span class=\"s1\">2020<\/span>\u5e74\uff0c \u62e5\u6709\u7684\u603b\u8d44\u4ea7\u8fbe\u5230<span class=\"s1\">3.5<\/span>\u4e07\u4ebf\u7f8e\u5143\uff0c \u5176\u4e2d\u5728\u7f8e\u56fd\u4e0a\u5e02\u7684<span class=\"s1\">REI Ts <\/span>\u80a1\u7968\u5e02\u503c\u8d85\u8fc7<span class=\"s1\">1 . 3 5 <\/span>\u4e07\u4ebf\u7f8e\u5143\u3002\u76ee\u524d\uff0c \u5168\u7403<span class=\"s1\">3 9 <\/span>\u4e2a\u56fd\u5bb6\uff08 <span class=\"s2\">\u5305\u62ec\u6240\u6709\u7684G 7 \u56fd\u5bb6\u4e0e\u4e09\u5206\u4e4b\u4e8c\u7684OECD\u7ec4\u7ec7\u56fd\u5bb6<\/span>\uff09\u5747\u6709<span class=\"s1\">REITs<\/span>\u4ea7\u54c1\u3002\u4e0d\u96be\u770b\u51fa\uff0c<span class=\"s1\">REITs<\/span>\u5e76\u975e\u4e3a\u53d1\u5c55\u79df\u8d41\u4f4f\u623f\u800c\u8bbe\u7acb\uff0c \u4f46\u79df\u8d41\u4f4f\u623f\u7a33\u5065\u7684\u79df\u91d1\u6536\u76ca\u548c\u73b0\u91d1\u6d41\uff0c \u5ba2\u89c2\u4e0a\u4fc3\u8fdb\u4e86<span class=\"s1\">REITs<\/span>\u7684\u53d1\u5c55\u3002<\/p>\n<p style=\"text-indent:2em;\" class=\"p1\"><span class=\"s1\">R E I Ts <\/span>\u53ef\u5206\u4e3a\u6743\u76ca\u578b\u3001\u62b5\u62bc\u578b\u3001\u6df7\u5408\u578b\u4e09\u7c7b\u3002\u7f8e\u56fd<span class=\"s1\">REITs<\/span>\u65e9\u671f\u4ee5\u62b5\u62bc\u578b\u5c45\u591a\uff0c\u968f\u7740<span class=\"s1\">20<\/span>\u4e16\u7eaa<span class=\"s1\">70<\/span>\u5e74\u4ee3\u623f\u5730\u4ea7\u6ce1\u6cab\u7834\u706d\uff0c\u5bfc\u81f4\u5927\u91cf\u5f00\u53d1\u5546\u7834\u4ea7\u548c\u8d37\u6b3e\u8fdd\u7ea6\uff0c\u62b5\u62bc\u578b<span class=\"s1\">REITs <\/span>\u635f\u5931\u60e8\u91cd\u3002\u76f8\u6bd4\u4e4b\u4e0b\uff0c\u6743\u76ca\u578b<span class=\"s1\">RETTs <\/span>\u4ee5\u5176\u826f\u597d\u7684\u6297\u98ce\u9669\u80fd\u529b\u83b7\u5f97\u4e86\u66f4\u591a\u6295\u8d44\u8005\u7684\u9752\u7750\u3002\u4ece\u6536\u76ca\u89d2\u5ea6\u770b\uff0c\u5c3d\u7ba1\u5728\u623f\u5730\u4ea7\u5e02\u573a\u7e41\u8363\u65f6\u671f\u62b5\u62bc\u578b<span class=\"s1\">REITs<\/span>\u7684\u6536\u76ca\u80fd\u591f\u8d85\u8fc7\u6743\u76ca\u578b<span class=\"s1\">REITs<\/span>\uff0c\u4f46\u957f\u671f\u800c\u8a00\uff0c\u6743\u76ca\u578b<span class=\"s1\">REITs<\/span>\u7684\u6536\u76ca\u66f4\u9ad8\u3001\u66f4\u7a33\u5065\u3002<\/p>\n<p style=\"text-indent:2em;\" class=\"p1\">2.\u8fd0\u4f5c\u6a21\u5f0f<\/p>\n<p style=\"text-indent:2em;\" class=\"p1\">\u5927\u591a\u6570<span class=\"s1\">REITs<\/span>\u90fd\u9075\u5faa\u7b80\u5355\u6613\u61c2\u7684\u5546\u4e1a\u6a21\u5f0f\u8fd0\u4f5c\uff1a\u901a\u8fc7\u79df\u8d41\u7a7a\u95f4\u548c\u6536\u53d6\u623f\u5730\u4ea7\u79df\u91d1\uff0c \u516c\u53f8\u4ea7\u751f\u6536\u5165\uff0c\u7136\u540e\u4ee5\u80a1\u606f\u7684\u5f62\u5f0f\u652f\u4ed8\u7ed9\u80a1\u4e1c\u3002<span class=\"s1\">REITs<\/span>\u5fc5\u987b\u5411\u80a1\u4e1c\u652f\u4ed8\u81f3\u5c11<span class=\"s1\">90%<\/span>\u7684\u5e94\u7a0e\u6536\u5165\u2014\u2014\u5927\u591a\u6570\u652f\u4ed8<span class=\"s1\">100%<\/span>\u3002\u62b5\u62bc\u578b<span class=\"s1\">REITs<\/span>\u4e0d\u76f4\u63a5\u62e5\u6709\u623f\u5730\u4ea7\uff0c \u800c\u662f\u4e3a\u623f\u5730\u4ea7\u878d\u8d44\u5e76\u4ece\u8fd9\u4e9b\u6295\u8d44\u7684\u5229\u606f\u4e2d\u8d5a\u53d6\u6536\u5165\u3002<\/p>\n<p style=\"text-indent:2em;\" class=\"p1\">\u5177\u4f53\u6765\u770b\uff0c<span class=\"s1\">REITs<\/span>\u7684\u57fa\u672c\u8fd0\u4f5c\u6a21\u5f0f\u5b9e\u9645\u4e0a\u662f\u901a\u8fc7\u5411\u5e02\u573a\u53d1\u552e\u53d7\u76ca\u51ed\u8bc1\uff08<span class=\"s2\">\u6216\u80a1\u4efd<\/span>\uff09\uff0c\u96c6\u805a\u4f17\u591a\u4e2d\u5c0f\u6295\u8d44\u8005\u7684\u8d44\u91d1\uff0c\u7136\u540e\u51ed\u501f\u81ea\u8eab\u4e13\u4e1a\u7684\u6295\u8d44\u7406\u5ff5\u53c2\u4e0e\u623f\u5730\u4ea7\u9879\u76ee\u7684\u6295\u8d44\uff0c\u6700\u540e\u5c06\u6295\u8d44\u6536\u76ca\u4ee5\u80a1\u606f\u3001\u7ea2\u5229\u7684\u5f62\u5f0f\u5206\u914d\u7ed9\u6295\u8d44\u8005\u3002\u8fd0\u4f5c\u4e00\u822c\u5206\u4e3a\u56db\u4e2a\u9636\u6bb5\uff08<span class=\"s1\">\u89c1<\/span><span class=\"s2\">\u56fe1<\/span>\uff09\uff1a<span class=\"Apple-converted-space\">\u00a0<\/span><\/p>\n<p style=\"text-indent:2em;\"><a href=\"https:\/\/cdo.develpress.com\/wp-content\/uploads\/2022\/03\/\u622a\u5c4f2022-03-25-\u4e0a\u534811.13.10.png\"><img decoding=\"async\" loading=\"lazy\" class=\"alignnone size-full wp-image-12814\" src=\"https:\/\/cdo.develpress.com\/wp-content\/uploads\/2022\/03\/\u622a\u5c4f2022-03-25-\u4e0a\u534811.13.10.png\" alt=\"\" width=\"600\" height=\"455\" srcset=\"https:\/\/cdo.develpress.com\/wp-content\/uploads\/2022\/03\/\u622a\u5c4f2022-03-25-\u4e0a\u534811.13.10.png 600w, https:\/\/cdo.develpress.com\/wp-content\/uploads\/2022\/03\/\u622a\u5c4f2022-03-25-\u4e0a\u534811.13.10-300x228.png 300w\" sizes=\"(max-width: 600px) 100vw, 600px\" \/><\/a><\/p>\n<p style=\"text-indent:2em;\" class=\"p1\">\u9996\u5148\u662f\u6210\u7acb\u9636\u6bb5\uff0c<span class=\"s3\">REITs <\/span>\u5728\u8fd9\u4e00\u9636\u6bb5\u4f9d\u6cd5\u8bbe\u7acb\u3002\u5176\u6b21\u662f\u7b79\u8d44\u9636\u6bb5\uff0c<span class=\"s3\">REITs<\/span>\u5411\u6295\u8d44\u8005\u53d1\u884c<span class=\"s3\">REI Ts <\/span>\u53d7\u76ca\u51ed\u8bc1\uff08 <span class=\"s1\">\u6216\u80a1\u4efd<\/span>\uff09 \uff0c \u4ee5\u83b7\u53d6\u8d44\u91d1\u3002\u7b2c\u4e09\u662f\u7ecf\u8425\u9636\u6bb5\uff0c<span class=\"s3\">REI Ts <\/span>\u5c06\u8d44\u91d1\u6295\u5165\u623f\u5730\u4ea7\u53ca\u5176\u76f8\u5173\u6743\u76ca\u7684\u6295\u8d44\u9879\u76ee\u4e2d\uff0c \u5e76\u5c06\u5b9e\u9645\u7ecf\u8425\u7ba1\u7406\u5de5\u4f5c\u627f\u5305\u7ed9\u72ec\u7acb\u7684\u4e13\u4e1a\u5f00\u53d1\u5546\u8d1f\u8d23\uff08 <span class=\"s1\">\u6216\u81ea\u8eab\u8fdb\u884c\u7ecf\u8425\u7ba1\u7406<\/span>\uff09 \uff0c \u4ece\u4e2d\u83b7\u53d6\u5229\u606f\u3001\u79df\u91d1\u3001\u8d44\u672c\u589e\u503c\u7b49\u6295\u8d44\u6536\u5165\u3002\u6700\u540e\u662f\u5229\u6da6\u5206\u914d\u9636\u6bb5\uff0c \u4e0a\u5e02<span class=\"s3\">REITs<\/span>\u7684\u6295\u8d44\u7ecf\u8425\u6548\u76ca\u76f4\u63a5\u53cd\u6620\u5728<span class=\"s3\">REI Ts <\/span>\u80a1\u7968\u7684\u4ef7\u683c\u6da8\u843d\u4e0a\uff0c \u53d7\u76ca\u51ed\u8bc1\uff08 <span class=\"s1\">\u6216\u80a1\u4efd<\/span>\uff09 \u7684\u6301\u6709\u8005\uff08 <span class=\"s1\">\u4e5f\u5c31\u662f\u6295\u8d44\u9879\u76ee\u7684\u53d7\u76ca\u80a1\u4e1c<\/span>\uff09 \u901a\u8fc7\u80a1\u606f\u5206\u7ea2\u6216\u4f4e\u4e70\u9ad8\u5356\u7684\u65b9\u5f0f\u53d8\u73b0\u81ea\u5df1\u7684\u6295\u8d44\u6536\u76ca\u3002\u672a\u4e0a\u5e02<span class=\"s3\">REITs<\/span>\u5219\u901a\u8fc7\u80a1\u606f\u5206\u7ea2\u7684\u65b9\u5f0f\u6765\u5b9e\u73b0\u5229\u6da6\u7684\u5206\u914d\u3002<\/p>\n<p style=\"text-indent:2em;\"><a href=\"https:\/\/cdo.develpress.com\/wp-content\/uploads\/2022\/03\/\u622a\u5c4f2022-03-25-\u4e0a\u534811.13.31.png\"><img decoding=\"async\" loading=\"lazy\" class=\"alignnone size-full wp-image-12815\" src=\"https:\/\/cdo.develpress.com\/wp-content\/uploads\/2022\/03\/\u622a\u5c4f2022-03-25-\u4e0a\u534811.13.31.png\" alt=\"\" width=\"600\" height=\"431\" srcset=\"https:\/\/cdo.develpress.com\/wp-content\/uploads\/2022\/03\/\u622a\u5c4f2022-03-25-\u4e0a\u534811.13.31.png 600w, https:\/\/cdo.develpress.com\/wp-content\/uploads\/2022\/03\/\u622a\u5c4f2022-03-25-\u4e0a\u534811.13.31-300x216.png 300w\" sizes=\"(max-width: 600px) 100vw, 600px\" \/><\/a><\/p>\n<p style=\"text-indent:2em;\" class=\"p2\">REITs\u7684\u6d41\u52a8\u6027\u4f18\u52bf\u4e0e\u6536\u76ca\u5f71\u54cd\u56e0\u7d20<\/p>\n<p style=\"text-indent:2em;\" class=\"p3\">1.\u6d41\u52a8\u6027\u4f18\u52bf<\/p>\n<p style=\"text-indent:2em;\" class=\"p3\">\u8f83\u4e4b\u76f4\u63a5\u7684\u623f\u5730\u4ea7\u6295\u8d44\uff0c <span class=\"s3\">REITs <\/span>\u7684\u7a81\u51fa\u4f18\u52bf\u662f\u5177\u6709\u8f83\u597d\u7684\u6d41\u52a8\u6027\u3002\u80fd\u591f\u65b9\u4fbf\u5feb\u6377\u5730\u4ee5\u5f88\u5c11\u7684\u6298\u73b0\u7387\u6216\u65e0\u6298\u73b0\u7387\u51fa\u552e\u3002\u5982\u679c\u76f4\u63a5\u6295\u8d44\u4e8e\u623f\u5730\u4ea7\uff0c \u65e0\u8bba\u662f\u8d2d\u7269\u4e2d\u5fc3\u3001\u5199\u5b57\u697c\u8fd8\u662f\u79df\u8d41\u4f4f\u623f\uff0c \u6d41\u52a8\u6027\u90fd\u6bd4\u8f83\u5dee\u3002<span class=\"s3\">REITs<\/span>\u540c\u6837\u662f\u6295\u8d44\u4e8e\u623f\u5730\u4ea7\uff0c\u4f46\u5374\u62e5\u6709\u666e\u901a\u80a1\u7968\u7684\u6d41\u52a8\u6027\u4f18\u52bf\u3002<\/p>\n<p style=\"text-indent:2em;\" class=\"p3\">\u901a\u8fc7\u5b9e\u65f6\u5b9a\u4ef7\u548c\u4f30\u503c\uff0c <span class=\"s3\">REITs <\/span>\u53ef\u4e3a\u6295\u8d44\u8005\u63d0\u4f9b\u826f\u597d\u7684\u5e02\u573a\u900f\u660e\u5ea6\u3002\u4e0e\u5176\u4ed6\u80a1\u7968\u4e00\u6837\uff0c\u6295\u8d44\u8005\u53ef\u4ee5\u589e\u52a0\u6216\u51cf\u5c11\u4ed6\u4eec\u7684\u6295\u8d44\uff0c\u4ee5\u53cd\u6620\u5176\u5bf9\u623f\u5730\u4ea7\u5e02\u573a\u7684\u4fe1\u5fc3\u3002\u5728\u7f8e\u56fd\u4e0a\u5e02\u7684<span class=\"s3\">REITs<\/span>\u7531\u7f8e\u56fd\u8bc1\u5238\u4ea4\u6613\u59d4\u5458\u4f1a\u6ce8\u518c\u548c\u76d1\u7ba1\uff0c\u786e\u4fdd\u9075\u5b88\u7f8e\u56fd\u8bc1\u5238\u4ea4\u6613\u59d4\u5458\u4f1a\u7684\u516c\u53f8\u6cbb\u7406\u3001\u8d22\u52a1\u62a5\u544a\u548c\u4fe1\u606f\u62ab\u9732\u6807\u51c6\u3002<\/p>\n<p style=\"text-indent:2em;\" class=\"p3\">\u6b64\u5916\uff0c<span class=\"s3\">REITs<\/span>\u4e0e\u5176\u4ed6\u8d44\u4ea7\u7684\u76f8\u5173\u6027\u8f83\u4f4e\uff0c \u4f7f\u5176\u6210\u4e3a\u51fa\u8272\u7684\u6295\u8d44\u7ec4\u5408\u5206\u6563\u5668\uff0c \u6709\u52a9\u4e8e\u964d\u4f4e\u6574\u4f53\u6295\u8d44\u7ec4\u5408\u98ce\u9669\u5e76\u589e\u52a0\u56de\u62a5\u3002<\/p>\n<p style=\"text-indent:2em;\" class=\"p3\">2.\u6536\u76ca\u5f71\u54cd\u56e0\u7d20<\/p>\n<p style=\"text-indent:2em;\" class=\"p4\"><span class=\"s4\">\u4f4f\u5b85\uff08<\/span>\u4e3b\u8981\u662f\u516c\u5bd3\u5c0f\u533a\uff0c \u8fd8\u5305\u62ec\u4e00\u5b9a\u6570\u91cf\u7684\u5b66\u751f\u5bbf\u820d\u3001\u88c5\u914d\u5f0f\uff08m a n u f a c t u r i n g\uff09\u4f4f\u5b85\u3001\u5355\u4eb2\u5bb6\u5ead\u4f4f\u5b85<span class=\"s4\">\uff09\u662f<\/span><span class=\"s3\">REITs <\/span><span class=\"s4\">\u6301\u6709\u7684\u4e3b\u8981\u5546\u4e1a\u623f\u5730\u4ea7\u7c7b\u578b\u4e4b\u4e00\u3002<\/span><span class=\"s3\">1971<\/span><span class=\"s4\">\u5e74\uff0c\u516c\u5bd3\u5c0f\u533a\u9996\u6b21\u6210\u4e3a<\/span><span class=\"s3\">REITs<\/span><span class=\"s4\">\u6295\u8d44\u7684\u57fa\u7840\u8d44\u4ea7\u3002<\/span><\/p>\n<p style=\"text-indent:2em;\" class=\"p3\"><span class=\"s3\">2 0 2 0 <\/span>\u5e74\uff0c \u7f8e\u56fd\u4f4f\u5b85\u7c7b<span class=\"s3\">REITs<\/span>\u5728\u6240\u6709<span class=\"s3\">REITs<\/span>\u5e02\u503c\u4e2d\u5360<span class=\"s3\">14%<\/span>\uff08 <span class=\"s1\">\u89c1<\/span><span class=\"s2\">\u56fe3 <\/span>\uff09 \u3002<span class=\"s3\">REITs<\/span>\u6301\u6709\u7684\u5176\u4ed6\u5546\u4e1a\u623f\u5730\u4ea7\u7c7b\u578b\u8fd8\u5305\u62ec\u5de5\u4e1a\u7269\u4e1a\uff08<span class=\"s1\">\u53601 1 %<\/span>\uff09\u3001\u5199\u5b57\u697c\uff08<span class=\"s1\">\u53607%<\/span>\uff09\u548c\u96f6\u552e\u8d2d\u7269\u4e2d\u5fc3\uff08<span class=\"s1\">\u536011%<\/span>\uff09\u7b49\u3002\u79df\u8d41\u4f4f\u623f\uff08<span class=\"s1\">\u516c\u5bd3\u578b<\/span>\uff09 <span class=\"s3\">REITs<\/span>\u53d1\u5c55\u8f83\u4e3a\u7f13\u6162\uff0c\u5728<span class=\"s3\">1993<\/span>\u2014 <span class=\"s3\">1994<\/span>\u5e74\u7684<span class=\"s3\">REITs<\/span>\u53d1\u884c\u6d6a\u6f6e\u524d\uff0c \u53ea\u6709<span class=\"s3\">4 <\/span>\u5bb6\u3002\u4e4b\u540e\u516c\u5bd3\u578b<span class=\"s3\">REITs <\/span>\u6709\u8f83\u5feb\u53d1\u5c55\uff0c \u5230<span class=\"s3\">1996<\/span>\u5e74\u5df2\u7ecf\u4e0a\u5347\u5230<span class=\"s3\">3 0 <\/span>\u591a\u5bb6\uff0c \u6bcf\u5bb6\u7684\u6743\u76ca\u5e02\u573a\u4ef7\u503c\u5747\u8d85\u8fc7<span class=\"s3\">1<\/span>\u4ebf\u7f8e\u5143\u3002\u5230<span class=\"s3\">2020<\/span>\u5e74\uff0c\u7f8e\u56fd\u4f4f\u5b85\u7c7b<span class=\"s3\">REITs<\/span>\u5171\u6709<span class=\"s3\">21<\/span>\u5bb6\u3002<\/p>\n<p style=\"text-indent:2em;\"><a href=\"https:\/\/cdo.develpress.com\/wp-content\/uploads\/2022\/03\/\u622a\u5c4f2022-03-25-\u4e0a\u534811.14.03.png\"><img decoding=\"async\" loading=\"lazy\" class=\"alignnone size-full wp-image-12817\" src=\"https:\/\/cdo.develpress.com\/wp-content\/uploads\/2022\/03\/\u622a\u5c4f2022-03-25-\u4e0a\u534811.14.03.png\" alt=\"\" width=\"600\" height=\"345\" srcset=\"https:\/\/cdo.develpress.com\/wp-content\/uploads\/2022\/03\/\u622a\u5c4f2022-03-25-\u4e0a\u534811.14.03.png 600w, https:\/\/cdo.develpress.com\/wp-content\/uploads\/2022\/03\/\u622a\u5c4f2022-03-25-\u4e0a\u534811.14.03-300x173.png 300w\" sizes=\"(max-width: 600px) 100vw, 600px\" \/><\/a><\/p>\n<p style=\"text-indent:2em;\" class=\"p3\">\u623f\u5730\u4ea7\u533a\u4f4d\u7b49\u7279\u5f81\u56e0\u7d20\u3001\u623f\u5730\u4ea7\u5e02\u573a\u76f8\u5173\u56e0\u7d20\u548c\u5b8f\u89c2\u7ecf\u6d4e\u56e0\u7d20\u662f\u5f71\u54cd<span class=\"s3\">REITs<\/span>\u6536\u76ca\u7684\u4e09\u5927\u7c7b\u56e0\u7d20\u3002\u5bf9\u4e8e\u6240\u6709\u7684\u5546\u4e1a\u623f\u5730\u4ea7\uff0c\u5176\u4ef7\u503c\u548c\u76c8\u5229\u80fd\u529b\u90fd\u4e0e\u623f\u5730\u4ea7\u7684\u7279\u5f81\u56e0\u7d20\u76f8\u5173\uff1a \u5730\u70b9\u3001\u79df\u91d1\u6536\u5165\u3001\u7269\u4e1a\u652f\u51fa\u3001\u7a7a\u7f6e\u7387\u3001\u91cd\u7f6e\u6210\u672c\u7b49\u3002\u623f\u5730\u4ea7\u5e02\u573a\u76f8\u5173\u56e0\u7d20\uff0c\u5982\u8d44\u672c\u5316\u7387\u3001\u4f9b\u9700\u5f62\u52bf\u7b49\uff0c\u901a\u8fc7\u8d44\u91d1\u6210\u672c\u3001\u79df\u91d1\u6c34\u5e73\u7b49\u5bf9<span class=\"s1\">REITs<\/span>\u6536\u76ca\u4ea7\u751f\u5f71\u54cd\u3002\u5b8f\u89c2\u7ecf\u6d4e\u56e0\u7d20\uff0c\u5982\u5c31\u4e1a\u4eba\u6570\u3001\u5229\u7387\u3001\u901a\u80c0\u6c34\u5e73\u7b49\u901a\u8fc7\u5f71\u54cd\u79df\u4f4f\u9700\u6c42\u3001\u7269\u4e1a\u5efa\u8bbe\u6210\u672c\u5f71\u54cd<span class=\"s1\">REITs<\/span>\u6536\u76ca\u3002<\/p>\n<p style=\"text-indent:2em;\" class=\"p1\">\u516c\u5bd3\u578b<span class=\"s1\">REITs<\/span>\u4e0e\u4e2a\u4eba\u4f4f\u623f\u7684\u4e70\u5356\u5e02\u573a\u5b58\u5728\u7ade\u4e89\u3002\u4f4f\u623f\u4ef7\u683c\u3001\u5c45\u6c11\u7684\u4f4f\u623f\u8d1f\u62c5\u80fd\u529b\uff08<span class=\"s2\">\u62b5\u62bc\u8d37\u6b3e\u7684\u6309\u63ed\u652f\u4ed8\u5360\u5bb6\u5ead\u6536\u5165\u7684\u6bd4\u4f8b<\/span>\uff09\u3001\u5bb6\u5ead\u878d\u8d44\u7684\u53ef\u83b7\u5f97\u6027\u548c\u6210\u672c\u4ee5\u53ca\u4f4f\u623f\u4f5c\u4e3a\u6295\u8d44\u7684\u5438\u5f15\u529b\uff0c\u90fd\u4f1a\u5f71\u54cd\u5230\u516c\u5bd3\u7c7b<span class=\"s1\">REITs<\/span>\u7684\u6536\u76ca\u7387\u3002\u7279\u522b\u9700\u8981\u6307\u51fa\u7684\u662f\uff0c \u7269\u4e1a\u7ba1\u7406\u6c34\u5e73\u4e5f\u662f\u5f71\u54cd\u516c\u5bd3\u578b<span class=\"s1\">R E I Ts <\/span>\u6536\u76ca\u7387\u7684\u91cd\u8981\u56e0\u7d20\u3002\u7f8e\u56fd<span class=\"s1\">1986<\/span>\u5e74\u516c\u5e03\u7684\u300a\u7a0e\u6536\u6539\u9769\u6cd5\u6848\u300b\u53d6\u6d88\u4e86<span class=\"s1\">R E I Ts <\/span>\u5fc5\u987b\u8058\u8bf7\u5916\u516c\u53f8\u63d0\u4f9b\u7269\u4e1a\u7ba1\u7406\u548c\u670d\u52a1\u7684\u9650\u5236\uff0c \u5141\u8bb8\u901a\u8fc7\u5185\u90e8\u7684\u7ec4\u7ec7\u6765\u5b9e\u65bd\u7269\u4e1a\u7ba1\u7406\u6d3b\u52a8\uff0c\u5305\u62ec\u6536\u8d2d\u548c\u51fa\u552e\u7269\u4e1a\u3001\u9002\u5f53\u5730\u7ba1\u7406\u548c\u51fa\u79df\u3001\u7ffb\u4fee\u3001\u518d\u51fa\u79df\u4ee5\u53ca\u65b0\u7269\u4e1a\u5f00\u53d1\u7b49\u3002<\/p>\n<p style=\"text-indent:2em;\" class=\"p1\"><span class=\"s1\">REITs<\/span>\u7684\u6536\u76ca\u4f1a\u968f\u7740\u623f\u5730\u4ea7\u5468\u671f\u800c\u4ea7\u751f\u5468\u671f\u6027\u53d8\u5316\u3002\u516c\u5bd3\u578b<span class=\"s1\">REI Ts <\/span>\u5728\u7ecf\u6d4e\u6269\u5f20\u65f6\u8868\u73b0\u8f83\u597d\uff0c \u65b0\u7684\u5c31\u4e1a\u5e26\u6765\u5927\u91cf\u65b0\u7684\u5c45\u4f4f\u9700\u6c42\u3002\u5f53\u4f4f\u623f\u79df\u8d41\u5e02\u573a\u53d1\u5c55\u8f83\u4e3a\u5e73\u7f13\u65f6\uff0c \u65b0\u516c\u5bd3\u7684\u5efa\u6210\u5c06\u8feb\u4f7f\u73b0\u6709\u516c\u5bd3\u6301\u6709\u4eba\u964d\u4f4e\u79df\u91d1\uff0c \u516c\u5bd3\u578b<span class=\"s1\">REI Ts <\/span>\u56de\u62a5\u968f\u4e4b\u4e0b\u964d\u3002\u901a\u8d27\u81a8\u80c0\u5bf9\u516c\u5bd3\u578b<span class=\"s1\">REI Ts <\/span>\u7684\u5f71\u54cd\u662f\u53cc\u5411\u7684\uff0c \u4e00\u65b9\u9762\u5bfc\u81f4\u623f\u5c4b\u7684\u7ef4\u62a4\u8d39\u7528\u4e0a\u5347\uff0c \u800c\u8fd9\u4e9b\u652f\u51fa\u96be\u4ee5\u7b80\u5355\u5730\u8f6c\u5ac1\u7ed9\u79df\u5ba2\uff1b \u53e6\u4e00\u65b9\u9762\u65b0\u516c\u5bd3\u7684\u5efa\u8bbe\u6210\u672c\u5927\u5927\u63d0\u5347\uff0c \u65b0\u5efa\u516c\u5bd3\u96be\u4ee5\u76c8\u5229\uff0c \u8fd9\u5728\u4e00\u5b9a\u7a0b\u5ea6\u4e0a\u964d\u4f4e\u4e86\u4f4f\u623f\u79df\u8d41\u5e02\u573a\u7684\u7ade\u4e89\u3002\u4e0d\u65ad\u4e0a\u5347\u7684\u5229\u7387\u5219\u4f1a\u63d0\u9ad8\u4f01\u4e1a\u7684\u878d\u8d44\u6210\u672c\uff0c \u964d\u4f4e\u4f01\u4e1a\u7684\u5229\u6da6\u7387\u548c<span class=\"s1\">REITs<\/span>\u7684\u8d44\u4ea7\u51c0\u503c\uff0c\u4ece\u800c\u4f7f\u5f97<span class=\"s1\">REITs<\/span>\u6295\u8d44\u8005\u629b\u552e\u80a1\u7968\uff0c <span class=\"s1\">REITs<\/span>\u4ef7\u683c\u968f\u4e4b\u4e0b\u8dcc\u3002<\/p>\n<p style=\"text-indent:2em;\" class=\"p2\">REITs\u53d1\u5c55\u9700\u6ee1\u8db3\u7684\u653f\u7b56\u4e0e\u5e02\u573a\u6761\u4ef6<\/p>\n<p style=\"text-indent:2em;\" class=\"p3\"><span class=\"s1\">REITs<\/span>\u7684\u53d1\u5c55\uff0c\u9700\u8981\u6ee1\u8db3\u7279\u5b9a\u7684\u653f\u7b56\u4e0e\u5e02\u573a\u6761\u4ef6\u3002<\/p>\n<p style=\"text-indent:2em;\" class=\"p3\">1.\u4ee5\u907f\u514d\u53cc\u91cd\u5f81\u7a0e\u4e3a\u6838\u5fc3\u7684\u5236\u5ea6\u5b89\u6392<\/p>\n<p style=\"text-indent:2em;\" class=\"p1\"><span class=\"s1\">REITs<\/span>\u7684\u7a81\u51fa\u4f18\u70b9\u662f\u907f\u514d\u53cc\u91cd\u5f81\u7a0e\u3002\u76f8\u5e94\u7684\u7a0e\u6536\u5236\u5ea6\u5b89\u6392\u6210\u4e3a<span class=\"s1\">REITs<\/span>\u6210\u7acb\u7684\u5173\u952e\u653f\u7b56\u6761\u4ef6\u3002<\/p>\n<p style=\"text-indent:2em;\" class=\"p1\"><span class=\"s1\">REITs<\/span>\u7ed3\u6784\u7684\u7279\u5f81\u662f\u80fd\u591f\u4ece\u5176\u7a0e\u524d\u51c0\u6536\u76ca\u4e2d\u51cf\u53bb\u652f\u4ed8\u7ed9\u6301\u6709\u4eba\u7684\u6240\u6709\u80a1\u606f\u3002\u5982\u662f\uff0c <span class=\"s1\">REITs<\/span>\u5c06\u5e94\u7a0e\u6536\u5165\u5168\u90e8\u652f\u4ed8\u7ed9\u4efd\u989d\u6301\u6709\u4eba\u65f6\uff0c\u5c06\u65e0\u987b\u7f34\u7eb3\u516c\u53f8\u7a0e\u3002\u5f53\u7136\uff0c\u4efd\u989d\u6301\u6709\u4eba\u5728\u5176\u4e2a\u4f53\u5c42\u9762\u9700\u8981\u4e3a\u80a1\u606f\u652f\u4ed8\u6240\u5f97\u7a0e\u3002\u6b64\u5916\uff0c<span class=\"s1\">REITs<\/span>\u8fd8\u6709\u4e00\u7cfb\u5217\u7684\u5176\u4ed6\u5236\u5ea6\u5b89\u6392\u3002<\/p>\n<p style=\"text-indent:2em;\" class=\"p1\">2.\u5408\u7406\u7684\u79df\u552e\u6bd4\u533a\u95f4\u3001\u53ef\u89c2\u7684\u6295\u8d44\u56de\u62a5<\/p>\n<p style=\"text-indent:2em;\" class=\"p1\">\u5177\u6709\u8f83\u9ad8\u7684\u6295\u8d44\u56de\u62a5\u662f<span class=\"s1\">REI Ts <\/span>\u53d1\u5c55\u7684\u57fa\u7840\u6027\u6761\u4ef6\u4e4b\u4e00\u3002\u7f8e\u56fd\u7684<span class=\"s1\">REITs<\/span>\u4e4b\u6240\u4ee5\u80fd\u591f\u53d1\u5c55\u8d77\u6765\uff0c\u5728\u4e8e\u5176\u80fd\u591f\u63d0\u4f9b\u53ef\u89c2\u7684\u6295\u8d44\u56de\u62a5\u3002\u957f\u671f\u6765\u770b\uff0c\u6743\u76ca\u578b<span class=\"s1\">REITs<\/span>\u63d0\u4f9b\u4e86\u6bd4\u80a1\u7968\u5e02\u573a\uff08<span class=\"s2\">\u5982\u6807\u666e50 0<\/span>\uff09\u5e73\u5747\u6536\u76ca\u66f4\u9ad8\u7684\u56de\u62a5\uff0c\u4f46\u4ef7\u683c\u6ce2\u52a8\u5374\u66f4\u5c0f\uff0c \u6295\u8d44\u98ce\u9669\u4e5f\u66f4\u5c0f\uff0c\u5f53\u671f\u56de\u62a5\u66f4\u9ad8\uff08<span class=\"s2\">\u89c1<\/span><span class=\"s3\">\u88681<\/span>\uff09\u3002<a href=\"https:\/\/cdo.develpress.com\/wp-content\/uploads\/2022\/03\/\u622a\u5c4f2022-03-25-\u4e0a\u534811.13.47.png\"><img decoding=\"async\" loading=\"lazy\" class=\"alignnone size-full wp-image-12816\" src=\"https:\/\/cdo.develpress.com\/wp-content\/uploads\/2022\/03\/\u622a\u5c4f2022-03-25-\u4e0a\u534811.13.47.png\" alt=\"\" width=\"600\" height=\"409\" srcset=\"https:\/\/cdo.develpress.com\/wp-content\/uploads\/2022\/03\/\u622a\u5c4f2022-03-25-\u4e0a\u534811.13.47.png 600w, https:\/\/cdo.develpress.com\/wp-content\/uploads\/2022\/03\/\u622a\u5c4f2022-03-25-\u4e0a\u534811.13.47-300x205.png 300w\" sizes=\"(max-width: 600px) 100vw, 600px\" \/><\/a><\/p>\n<p style=\"text-indent:2em;\" class=\"p2\">\u4ece\u7f8e\u56fd\u7684\u60c5\u51b5\u6765\u770b\uff0c<span class=\"s1\">1986 <\/span>\u5e74\u300a\u7a0e\u6536\u6539\u9769\u6cd5\u6848\u300b\u901a\u8fc7\u4ee5\u6765\uff0c\u516c\u5bd3\u6301\u6709\u4eba\u83b7\u5f97\u4e86<span class=\"s1\">7.8%<\/span>\u7684\u5e74\u5316\u56de\u62a5\u3002\u5927\u90e8\u5206\u516c\u5bd3\u7684\u8d44\u672c\u5316\u7387\u5728<span class=\"s1\">5%<\/span>\u2014<span class=\"s1\">7.5%<\/span>\u4e4b\u95f4\uff0c\u5177\u4f53\u53d6\u51b3\u4e8e\u5730\u70b9\u3001\u623f\u5c4b\u8d28\u91cf\u3001\u5efa\u7b51\u5e74\u4ee3\u4ee5\u53ca\u623f\u5730\u4ea7\u5e02\u573a\u7684\u4f9b\u9700\u5f62\u52bf\u3002\u7f8e\u56fd<span class=\"s1\">REITs<\/span>\u7684\u6295\u8d44\u56de\u62a5\u4e2d\u7edd\u5927\u90e8\u5206\u6765\u81ea\u79df\u91d1\u6536\u5165\u56de\u62a5\uff0c \u800c\u623f\u5730\u4ea7\u672c\u8eab\u7684\u5347\u503c\u56de\u62a5\u975e\u5e38\u6709\u9650\uff0c\u5de5\u4e1a\u5730\u4ea7\u548c\u5199\u5b57\u697c\u7684\u4ef7\u503c\u8fd8\u51fa\u73b0\u4e86\u5fae\u5f31\u7684\u4e0b\u8dcc\uff08 <span class=\"s2\">\u89c1<\/span><span class=\"s3\">\u56fe3<\/span>\uff09\u3002<\/p>\n<p style=\"text-indent:2em;\" class=\"p2\">\u9700\u8981\u6307\u51fa\u7684\u662f\uff0c \u623f\u5730\u4ea7\u8fc7\u5ea6\u5efa\u8bbe\u540e\u7684\u6ce1\u6cab\u7834\u706d\uff0c\u5ba2\u89c2\u4e0a\u4f1a\u4f7f\u5f97<span class=\"s1\">REITs<\/span>\u7684\u6295\u8d44\u4ef7\u683c\u4e0b\u964d\u5230\u4f4e\u4e8e\u5408\u7406\u7684\u6c34\u5e73\uff0c \u4f7f\u5f97<span class=\"s1\">REITs<\/span>\u6295\u8d44\u6709\u5229\u53ef\u56fe\u3002\u7f8e\u56fd\u4e0a\u4e16\u7eaa<span class=\"s1\">8 0 <\/span>\u5e74\u4ee3\u623f\u5730\u4ea7\u8fc7\u5269\uff0c \u516c\u5bd3\u5c0f\u533a\u4e0e\u5199\u5b57\u697c\u5747\u8fc7\u5ea6\u5efa\u8bbe\uff0c \u5bfc\u81f4\u7a7a\u7f6e\u7387\u4e0a\u5347\u3001\u79df\u91d1\u4e0b\u964d\u3002<span class=\"s1\">1990<\/span>\u5e74\uff0c\u6743\u76ca\u578b<span class=\"s1\">REITs<\/span>\u7684\u56de\u62a5\u7387\u4e3a\u2014<span class=\"s1\">14.8%<\/span>\u3002\u6295\u8d44\u8005\u7684\u8fc7\u5ea6\u53cd\u5e94\u5bfc\u81f4<span class=\"s1\">REITs<\/span>\u80a1\u7968\u4e0b\u964d\u5230\u4f4e\u4e8e\u5408\u7406\u7684\u6c34\u5e73\u3002\u5230<span class=\"s1\">1990<\/span>\u5e74\u672b\uff0c\u51fa\u73b0\u4e86\u5b8c\u7f8e\u7684<span class=\"s1\">REITs<\/span>\u4e70\u5165\u4ef7\u683c\uff0c \u718a\u5e02\u7684\u4f4e\u4ef7\u4e3a<span class=\"s1\">1 9 9 1 <\/span>\u2014<span class=\"s1\">1 9 9 3 <\/span>\u5e74\u7684<span class=\"s1\">R E I Ts <\/span>\u725b\u5e02\u5f00\u542f\u4e86\u5e8f\u5e55\u3002\u5728\u623f\u5730\u4ea7\u5e02\u573a\u7684\u8fc7\u5ea6\u5efa\u8bbe\u5468\u671f\u548c\u8427\u6761\u671f\u4e2d\uff0c<span class=\"s1\">REI Ts <\/span>\u80fd\u591f\u6709\u5145\u5206\u7684\u6ea2\u4ef7\u80fd\u529b\uff0c \u80fd\u591f\u4efb\u610f\u6311\u9009\u5ec9\u4ef7\u7684\u7269\u4e1a\u8d44\u4ea7\u3002\u90e8\u5206\u89c4\u6a21\u5de8\u5927\u7684\u7269\u4e1a\u751a\u81f3\u4ee5\u201c\u8df3\u697c\u4ef7\u201d\u51fa\u552e\u3002<\/p>\n<p style=\"text-indent:2em;\" class=\"p2\">\u65e5\u672c<span class=\"s1\">J-REITs<\/span>\u7684\u8d77\u6e90\u4e0e\u53d1\u5c55\u4e5f\u4e0e\u4e0a\u4e16\u7eaa<span class=\"s1\">90<\/span>\u5e74\u4ee3\u65e5\u672c\u623f\u5730\u4ea7\u6ce1\u6cab\u7834\u706d\u5bc6\u5207\u76f8\u5173\u3002<span class=\"s1\">1990<\/span>\u5e74\uff0c \u65e5\u672c\u592e\u884c\u8d27\u5e01\u653f\u7b56\u7d27\u6025\u8f6c\u5411\uff0c \u65e5\u672c\u623f\u5730\u4ea7\u5e02\u573a\u4ef7\u683c\u5168\u9762\u5d29\u6e83\uff0c\u5e26\u6765\u80a1\u5e02\u4e0e\u623f\u5730\u4ea7\u5e02\u573a\u957f\u8fbe<span class=\"s1\">20<\/span>\u5e74\u7684\u8870\u9000\u3002\u4e9a\u6d32\u91d1\u878d\u5371\u673a\u4e4b\u540e\uff0c\u65e5\u672c\u91d1\u878d\u5e02\u573a\u4e0e\u571f\u5730\u5e02\u573a\u5f7b\u5e95\u8fdb\u5165\u8c37\u5e95\u3002\u4e3a\u4e86\u5904\u7f6e\u4e0d\u826f\u8d44\u4ea7\uff0c \u590d\u82cf\u65e5\u672c\u623f\u5730\u4ea7\u5e02\u573a\uff0c \u65e5\u672c\u5728<span class=\"s1\">9 0 <\/span>\u5e74\u4ee3\u672b\u51fa\u53f0\u4e00\u7cfb\u5217\u653f\u7b56\uff0c\u76d8\u6d3b\u5e9e\u5927\u7684\u56fa\u5b9a\u8d44\u4ea7\u3002\u4eba\u4eec\u4e5f\u9010\u6e10\u8ba4\u8bc6\u5230\u623f\u5730\u4ea7\u6295\u8d44\u771f\u6b63\u7684\u4ef7\u503c\u6e90\u5934\uff1a\u4e0d\u80fd\u7b80\u5355\u6301\u6709\u3001\u56e4\u79ef\u5927\u91cf\u4e0d\u52a8\u4ea7\uff0c \u7b49\u5f85\u5347\u503c\u5b9e\u73b0\u4ef7\u503c\u56de\u62a5\uff0c\u800c\u662f\u8981\u901a\u8fc7\u6301\u6709\u7ecf\u8425\u7ba1\u7406\u6027\u4e0d\u52a8\u4ea7\uff0c\u5b9e\u73b0\u6301\u7eed\u7a33\u5065\u56de\u62a5\u3002\u7ecf\u6d4e\u6ce1\u6cab\u7834\u706d\u540e\u7684\u623f\u5730\u4ea7\u4ef7\u683c\u4e0b\u964d\u5230\u4f4e\u70b9\uff0c\u4f7f\u5f97<span class=\"s1\">J-REITs<\/span>\u53ef\u901a\u8fc7\u8d44\u4ea7\u8bc1\u5238\u5316\u7684\u65b9\u5f0f\u76d8\u6d3b\u4f01\u4e1a\u8d44\u4ea7\uff0c \u589e\u5f3a\u5176\u6d41\u52a8\u6027\u3002\u6362\u8a00\u4e4b\uff0c\u65e5\u672c<span class=\"s1\">J-REITs<\/span>\u7684\u53d1\u5c55\u662f\u65e5\u672c\u623f\u5730\u4ea7\u5e02\u573a\u6ce1\u6cab\u7834\u706d\u540e\u7684\u88ab\u52a8\u8865\u6551\u63aa\u65bd\uff0c\u5e76\u975e\u652f\u6301\u79df\u8d41\u4f4f\u623f\u53d1\u5c55\u7684\u4e3b\u52a8\u4f5c\u4e3a\uff0c\u4f46\u5ba2\u89c2\u4e0a\u6709\u5229\u4e8e\u76d8\u6d3b\u90e8\u5206\u5b58\u91cf\u4f4f\u623f\u7528\u4e8e\u79df\u8d41\u3002<\/p>\n<p style=\"text-indent:2em;\" class=\"p1\">\u5bf9\u6211\u56fd\u79df\u8d41\u4f4f\u623f\u878d\u8d44\u7684\u91cd\u8981\u542f\u793a<\/p>\n<p style=\"text-indent:2em;\" class=\"p2\">\u603b\u4f53\u6765\u770b\uff0c<span class=\"s1\">REITs<\/span>\u5e76\u975e\u4e3a\u652f\u6301\u79df\u8d41\u4f4f\u623f\uff08<span class=\"s2\">\u957f\u79df\u623f<\/span>\uff09\u7684\u53d1\u5c55\u800c\u8bbe\u8ba1\u3002\u5176\u521d\u8877\u662f\u4e3a\u5206\u6563\u7684\u4e2a\u4eba\u6295\u8d44\u8005\u63d0\u4f9b\u4e00\u4e2a\u6295\u8d44\u623f\u5730\u4ea7\u7684\u673a\u4f1a\uff0c\u5ba2\u89c2\u4e0a\u4e5f\u4e3a\u623f\u5730\u4ea7\u5e02\u573a\u589e\u52a0\u4e86\u878d\u8d44\uff0c\u4fc3\u8fdb\u4e86\u5305\u62ec\u79df\u8d41\u4f4f\u623f\u5728\u5185\u7684\u623f\u5730\u4ea7\u53d1\u5c55\u3002\u4e0e\u5176\u8bf4\u662f<span class=\"s1\">REITs<\/span>\u652f\u6301\u79df\u8d41\u4f4f\u623f\u53d1\u5c55\uff0c \u4e0d\u5982\u8bf4\u662f\u79df\u8d41\u4f4f\u623f\u53d1\u5c55\u4fc3\u8fdb\u4e86<span class=\"s1\">REITs<\/span>\u89c4\u6a21\u7684\u6269\u5f20\u4e0e\u53d1\u5c55\u3002<\/p>\n<p style=\"text-indent:2em;\" class=\"p2\">\u53ea\u6709\u79df\u8d41\u4f4f\u623f\u9879\u76ee\u672c\u8eab\u53d8\u5f97\u6709\u5229\u53ef\u56fe\uff0c\u6295\u8d44\u4e8e\u79df\u8d41\u4f4f\u623f\u7684<span class=\"s1\">REITs<\/span>\u624d\u80fd\u5f97\u5230\u957f\u8db3\u53d1\u5c55\u3002\u4ece\u7f8e\u56fd\u3001\u65e5\u672c\u7b49\u56fd\u5bb6<span class=\"s1\">REITs<\/span>\u7684\u7ecf\u9a8c\u6765\u770b\uff0c\u907f\u514d\u53cc\u91cd\u5f81\u7a0e\u7684\u653f\u7b56\u5b89\u6392\u4e3a<span class=\"s1\">REITs<\/span>\u6295\u8d44\u4eba\u63d0\u4f9b\u4e86\u6709\u6548\u6fc0\u52b1\uff0c \u623f\u5730\u4ea7\u4e0b\u884c\u4e43\u81f3\u6ce1\u6cab\u7834\u706d\u540e\u7684\u8427\u6761\u5468\u671f\u4e2d\u5904\u4e8e\u5386\u53f2\u4f4e\u4f4d\u7684\u623f\u5730\u4ea7\u4ef7\u683c\uff0c \u4f7f\u5f97\u6295\u8d44\u8005\u4e70\u5165\u540e\u7528\u4e8e\u79df\u8d41\u6709\u5229\u53ef\u56fe\u3002\u6070\u6070\u662f\u79df\u8d41\u4f4f\u623f\u5df2\u7ecf\u5145\u5206\u53d1\u5c55\u4e43\u81f3\u8fc7\u5269\uff0c \u624d\u4f7f\u5f97<span class=\"s1\">REITs<\/span>\u80fd\u591f\u4f4e\u6210\u672c\u4e70\u5165\u5f97\u4ee5\u8fc5\u901f\u53d1\u5c55\uff0c\u800c\u975e<span class=\"s1\">REITs<\/span>\u5728\u79df\u8d41\u4f4f\u623f\u4e0d\u8db3\u65f6\u4e3a\u79df\u8d41\u4f4f\u623f\u5efa\u8bbe\u63d0\u4f9b\u878d\u8d44\u3002<\/p>\n<p style=\"text-indent:2em;\" class=\"p3\">\u4ece\u6211\u56fd\u76ee\u524d\u7684\u623f\u5730\u4ea7\u53d1\u5c55\u9636\u6bb5\u6765\u770b\uff0c \u79df\u91d1\u8f83\u9ad8\u7684\u4eba\u53e3\u51c0\u6d41\u5165\u7684\u4e00\u7ebf\u57ce\u5e02\u7684\u5546\u54c1\u4f4f\u623f\u5c1a\u4e0d\u8db3\u6237\u5747<span class=\"s1\">1.0<\/span>\u5957\uff08<span class=\"s2\">\u6309\u5e38\u4f4f\u4eba\u53e3\u8ba1\u7b97<\/span>\uff09 \uff0c \u5904\u4e8e\u4f9b\u4e0d\u5e94\u6c42\u7684\u72b6\u6001\uff08<span class=\"s2\">\u89c1<\/span><span class=\"s3\">\u56fe4<\/span>\uff09\uff0c\u623f\u4ef7\u4e0a\u6da8\u9884\u671f\u4ecd\u7136\u8f83\u4e3a\u5f3a\u70c8\u3002\u76f8\u6bd4\u4e4b\u4e0b\uff0c \u79df\u8d41\u56de\u62a5\u7387\u8fc7\u4f4e\uff0c \u6295\u8d44\u4e8e\u79df\u8d41\u96be\u4ee5\u83b7\u5f97\u7406\u60f3\u7684\u56de\u62a5\uff0c \u6295\u8d44\u8005\u56e0\u6b64\u7f3a\u4e4f\u5e94\u6709\u7684\u6295\u8d44\u70ed\u60c5\u3002\u5bf9\u4e8e\u90a3\u4e9b\u6237\u5747\u4f4f\u623f\u5df2\u7ecf\u8d85\u8fc7<span class=\"s1\">1.1<\/span>\u5957\u7684\u4eba\u53e3\u51c0\u6d41\u5165\u57ce\u5e02\uff0c \u623f\u5730\u4ea7\u5e02\u573a\u603b\u4f53\u4f9b\u8fc7\u4e8e\u6c42\uff0c \u79df\u8d41\u4f4f\u623f\u7684\u4f9b\u5e94\u5df2\u7ecf\u76f8\u5bf9\u5145\u8db3\uff0c\u901a\u8fc7<span class=\"s1\">REITs<\/span>\u878d\u8d44\u589e\u52a0\u79df\u8d41\u4f4f\u623f\u4f9b\u5e94\u7684\u653f\u7b56\u4e3e\u63aa\u53ef\u80fd\u5f88\u96be\u8fbe\u5230\u9884\u671f\u6548\u679c\uff0c \u4e00\u4e2a\u53ef\u80fd\u7684\u65b9\u5411\u662f\u4ee5<span class=\"s1\">R E I Ts <\/span>\u6a21\u5f0f\u76d8\u6d3b\u5b58\u91cf\u7684\u95f2\u7f6e\u623f\u6e90\u3002<\/p>\n<p style=\"text-indent:2em;\"><a href=\"https:\/\/cdo.develpress.com\/wp-content\/uploads\/2022\/03\/\u622a\u5c4f2022-03-25-\u4e0a\u534811.14.20.png\"><img decoding=\"async\" loading=\"lazy\" class=\"alignnone size-full wp-image-12818\" src=\"https:\/\/cdo.develpress.com\/wp-content\/uploads\/2022\/03\/\u622a\u5c4f2022-03-25-\u4e0a\u534811.14.20.png\" alt=\"\" width=\"600\" height=\"373\" srcset=\"https:\/\/cdo.develpress.com\/wp-content\/uploads\/2022\/03\/\u622a\u5c4f2022-03-25-\u4e0a\u534811.14.20.png 600w, https:\/\/cdo.develpress.com\/wp-content\/uploads\/2022\/03\/\u622a\u5c4f2022-03-25-\u4e0a\u534811.14.20-300x187.png 300w\" sizes=\"(max-width: 600px) 100vw, 600px\" \/><\/a><\/p>\n<p style=\"text-indent:2em;\" class=\"p4\">\u4f5c\u8005\u5355\u4f4d\uff1a\u56fd\u52a1\u9662\u53d1\u5c55\u7814\u7a76\u4e2d\u5fc3\u5e02\u573a\u7ecf\u6d4e\u7814\u7a76\u6240\/\u5c71\u897f\u5927\u5b66\u653f\u6cbb\u4e0e\u516c\u5171\u7ba1\u7406\u5b66\u9662<\/p>\n","protected":false},"excerpt":{"rendered":"<p>\u738b\u745e\u6c11 \u4ee3\u4e3d\u4e39 \u8d77\u6e90\u4e8e\u7f8e\u56fd\u7684REITs\uff08\u623f\u5730\u4ea7\u6295\u8d44\u4fe1\u6258\u57fa\u91d1\uff09\uff0c\u521d\u8877\u662f\u4e3a\u5206\u6563\u7684\u4e2a\u4eba\u6295\u8d44\u8005\u63d0\u4f9b\u4e00\u4e2a\u6295\u8d44\u623f\u5730\u4ea7\u7684\u673a\u4f1a<\/p>\n<div class=\"read-more\"><a href=\"https:\/\/cdo.develpress.com\/?p=12813\" title=\"\u9605\u8bfb\u66f4\u591a\">\u9605\u8bfb\u66f4\u591a<\/a><\/div>\n","protected":false},"author":5,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[35],"tags":[],"_links":{"self":[{"href":"https:\/\/cdo.develpress.com\/index.php?rest_route=\/wp\/v2\/posts\/12813"}],"collection":[{"href":"https:\/\/cdo.develpress.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/cdo.develpress.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/cdo.develpress.com\/index.php?rest_route=\/wp\/v2\/users\/5"}],"replies":[{"embeddable":true,"href":"https:\/\/cdo.develpress.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=12813"}],"version-history":[{"count":2,"href":"https:\/\/cdo.develpress.com\/index.php?rest_route=\/wp\/v2\/posts\/12813\/revisions"}],"predecessor-version":[{"id":12942,"href":"https:\/\/cdo.develpress.com\/index.php?rest_route=\/wp\/v2\/posts\/12813\/revisions\/12942"}],"wp:attachment":[{"href":"https:\/\/cdo.develpress.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=12813"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/cdo.develpress.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=12813"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/cdo.develpress.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=12813"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}