Although China has not yet drawn up rules allowing REITs, two mainland Chinese property trusts are listed in Hong Kong namely

1.  RREEF China and
2. GZI REIT 

Earlier there is The CapitaRetail China Trust which  is listed in Singapore.

REITs, which pay most of their rental income as dividends, have caught on across Asia in the last five years because they give higher yields than bonds but tend to be less volatile than stocks. Many investors therefore are eager for

China to pass REIT legislation to allow them to tap rental growth in a booming property market without having to buy a whole building. Because REIT units are traded, they are seen as less risky than direct investment. – Reuters(11/9/07)

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