A research on the dividend policy of developing REITs in China

摘要

Nowadays, the credit tightening policy has forced developers to explore alternative sources of funding for real estate projects. As the crucial economy member, China is considering liberalizing the financing ways of real estate market and evaluating the feasibility of creating a REIT market, and a policy announcement with respect to setting up a REIT market could be expected soon. This paper researches on the dividend policy in process of developing REITs in China. Referring to the REITs dividend’s data in America in recent years and the dividend policy in Asian countries and regions, it concentrates on the detailed empirical study on the dividend policy’s guidance data in the progress of developing REITs in china in its initial stage and draws the conclusion that China should require mandatory distribution of 90% and recommendatory ceiling of 135% taxable earnings REITs as dividends to unit-holders.