On March 12, Huaxia Golden Mile Commercial REIT (508017) and Jiashi Wumei Consumer REIT (508011) were listed on the Shanghai Stock Exchange, marking the official entry of consumer infrastructure REITs into the capital market. As of the time of writing, the prices of the two funds in the secondary market both opened high but showed a downward trend, both falling by over 1%. In addition, Huaxia CRCC Commercial REIT will start trading on March 14, with a total of three consumer infrastructure REITs raising nearly 9 billion yuan. According to the recruitment prospectus of Huaxia Golden Mile Commercial REIT, the rental rate of Changsha Golden Mile Lanchow Exhibition City has maintained a high level of over 98% since 2022, with a compound annual growth rate of net operating income (NOI) of 55.40% over the past three years. The compound annual growth rate of average daily sales exceeds 25%, and the compound annual growth rate of average daily foot traffic exceeds 15%. The average rent growth rate achieved through renewal in the first half of 2020 to 2023 is nearly 20%. As of the end of June 2023, the rental rate of Changsha Golden Mile Lanchow Exhibition City project is 98.4%, with a main store rental rate of 32.03 yuan per square meter per month, an increase of 6.84% from 2022; and a specialty store rental rate of 139.13 yuan per square meter per month, an increase of 5.92% from 2022. Jiashi Wumei Consumer REIT is the first public offering REIT project initiated by private enterprises with a commercial supermarket retail format. It is also the first consumer-oriented public offering REIT in Beijing. By issuing and listing, it provides a listing channel and source of funds for consumer-based infrastructure existing assets, forming a virtuous cycle of project investment, construction, operation, and listing, facilitating the broad participation of various social capital in the construction of community commercial infrastructure, stimulating regional consumer vitality, and promoting the iteration and upgrade of consumption patterns and scenes. The successful listing of Huaxia Golden Mile Commercial REIT and other consumer REITs not only signifies the expansion of the underlying asset types of public offering REITs, but also reflects the important role of public offering REITs in exploring new models for expanding domestic demand, promoting consumption, protecting people's livelihoods, and assisting in the development of the real estate industry. Industry analysts believe that China's consumer infrastructure existing assets are rich, with diverse participants and a high degree of marketization, and consumer infrastructure REITs are expected to open up a market space of tens of billions of yuan in the future.