[Supply accelerates asset expansion, and the long-term allocation value of public REITs gradually becomes apparent] October 19th: Recently, the public REITs market can be summarized into two main lines: First, the secondary market of public REITs has gradually recovered from deep adjustment; second, the supply side has accelerated expansion and multiple breakthroughs in asset types. After experiencing a sharp retracement this year, the secondary market rebounded in mid-to-late September, and the market gradually recovered and stabilized; the pace of registration and issuance in the primary market hit a record high for the same period in history, and asset types continued to extend to commercial real estate, coal-fired power generation, and rent-guaranteed housing in second- and third-tier cities. At this point in time, institutional discussions on the allocation value of low valuation + high dividends have obviously heated up, and the long-term allocation value of public REITs has become prominent.