China News Network, Shanghai, November 18 – On November 18, it was learned from the Shanghai Stock Exchange that the “Pacific Asset Management – Century Interconnect Data Center Holding-Type Real Estate Green Asset-Backed Special Plan” was recently established on the Shanghai Stock Exchange, with an issuance scale of 860 million yuan. This represents another breakthrough in innovative practices within the multi-level REITs market for new infrastructure in Internet Data Centers (IDC).

According to reports, this project is the first green holding-type real estate ABS in the national data center industry and the second holding-type real estate ABS product for data centers nationwide. It also serves as a typical practical case for advancing the “Five Major Financial Tasks” and enhancing the quality and efficiency of financial services to the real economy, providing a replicable and scalable practical path for building a modern infrastructure system.

IDC business cash flows are relatively stable and predictable, primarily consisting of hosting and value-added service fees collected during user contract periods, aligning with key characteristics of ABS underlying assets. Data center assets combine stability and growth potential, making them ideal investment targets for public REITs. Holding-type real estate ABS, positioned as an intermediate product between Pre-REITs and public REITs, offers more flexible systems based on the needs of financiers and investors. They can be applied to a wider range of underlying assets and issuers while accommodating diverse operational management models, making them a favorable financing avenue for IDC enterprises with high financing needs.

Currently, the Shanghai Stock Exchange has established a diversified product system comprising public REITs, holding-type real estate ABS, quasi-REITs, special bonds for technological innovation, and exchangeable corporate bonds. This system provides financing channels and capital support tailored to the development needs and risk characteristics of data center assets at different stages.

Relevant officials from the Shanghai Stock Exchange stated that going forward, under the guidance of the China Securities Regulatory Commission, the exchange will continue to vigorously promote the construction of the holding-type real estate ABS market. Focusing on market organization and ecosystem development for holding-type real estate ABS, they will further effectively advance project implementation, improve relevant mechanisms and supporting rules, and comprehensively drive the high-quality development of the holding-type real estate ABS market.

Pacific Asset Management – Century Interconnect Data Center Holding-Type Real Estate Green Asset-Backed Special Plan

This is not a traditional cultural site but a specialized Japanese real estate investment fund. It was established to finance and operate the “Century Interconnect Data Center,” a facility designed to meet the growing demand for data processing and storage. The plan’s “Green” designation indicates a focus on environmentally sustainable and energy-efficient infrastructure.

Shanghai Stock Exchange

The Shanghai Stock Exchange (SSE) was founded in 1990 and has since become one of the world’s largest stock exchanges by market capitalization. It was a key component of China’s economic reform and opening-up policy, helping to modernize the country’s financial system. Today, it is a primary venue for trading securities of China’s largest state-owned and private companies.

China Securities Regulatory Commission

The China Securities Regulatory Commission (CSRC) is the primary regulatory body overseeing China’s securities and futures markets, established in 1992 to modernize the country’s financial systems. It plays a critical role in supervising stock exchanges, listed companies, and financial institutions to ensure market stability and investor protection. The CSRC’s development has paralleled China’s economic reforms, shaping the growth of its capital markets.