Standardize and efficiently implement the application and recommendation of real estate investment trust (REITs) projects in the field of infrastructure

(6) Strict investment management compliance. Whether the investment management procedures are in compliance should be based on the laws and regulations and national policies at the time of project investment and construction. The relevant procedures that do not need to be handled during the project investment and construction but should be handled according to the current provisions shall be grasped in accordance with the provisions at the time, and the relevant information shall be explained; Project investment and construction should go through the relevant procedures, but the current provisions have been cancelled or combined with other procedures, if there is a lack, the relevant responsible department should explain the situation or issue opinions; In accordance with the relevant procedures required for project investment and construction and current regulations, if there is a lack, in principle, the relevant responsible department should make up for it according to law, and if it cannot be made up, the relevant responsible department should issue a handling opinion. If the project has undergone major renovation and expansion to change the functional use, its investment management compliance should be judged mainly on the basis of the relevant procedures at the time of renovation and expansion.

Third, effectively improve the efficiency of reporting and recommendation

(7) Standardize the acceptance process of project declaration. After the completion of the pre-cultivation stage of the project and basically meeting the application conditions, the initiator (the original rights holder) shall submit the project application materials to the relevant provincial development and Reform Commission in accordance with the requirements of the Development and Reform Investment (2021) 958 document and the Development and Reform Office Investment (2022) 617 document. The provincial development and Reform Commission shall conduct a preliminary review of the project application materials in a timely manner, and the projects that basically meet the conditions shall be formally accepted within 5 working days; It will not accept those that obviously do not meet the issuance conditions or the materials are incomplete and incomplete, and reply within 5 working days.

After the acceptance of the project, the Committee and the provincial Development and Reform Commission will clarify the docking of special personnel, optimize the work process, accelerate the work progress, and jointly carry out the project judgment. The provincial development and reform Commission shall submit the qualified project application documents and relevant materials to the Commission in a timely manner. In order to improve work efficiency, if the relevant matters involving other provincial departments have been issued by the department (including its subordinate departments) no objection letter or written support opinions, the provincial development and Reform Commission should not be repeated when submitting the project declaration document to the Commission.

8. Improving the application process for central enterprises. The central enterprise can submit the project application materials and the opinions of the provincial development and reform Commission where the project is located directly to the Commission, or it can be submitted through the provincial development and reform Commission. If directly submitted, the Commission will conduct a preliminary review of the project application materials in a timely manner, and formally accept the projects that basically meet the conditions within 5 working days; It will not accept those that obviously do not meet the issuance conditions or the materials are incomplete and incomplete, and reply within 5 working days.

(9) Timely consultation and evaluation. For the projects formally submitted by the provincial Development and Reform Commission and directly accepted by the Commission, the Commission will, in accordance with the provisions of the Notice of the National Development and Reform Commission on the revision and issuance of the "National Development and Reform Commission Investment Consultation and Evaluation Management Measures" (Development and Reform Investment Regulation (2022) No. 632), select consulting and evaluation institutions in a timely manner and handle the consulting and evaluation mandate. The consulting evaluation agency shall conduct a comprehensive evaluation on whether the project meets the recommended conditions. Project evaluation time generally does not exceed 30 working days; If the consulting and evaluation institution is really difficult to complete within the prescribed time limit due to special circumstances, the completion time limit may be appropriately extended after obtaining the written consent of the investment Department. The consulting evaluation agency shall submit the evaluation report within the prescribed time limit.

(10) Accelerate project recommendation. Within 3 months from the date of formal acceptance of the project, the relevant work of submitting the project to the provincial Development and Reform Commission, entrusting consultation and evaluation, countersigning the relevant business departments, and recommending the project to the China Securities Regulatory Commission should be completed. The time for the initiator (original equity owner), fund manager, etc. to supplement or modify the project materials as required shall not be counted in the above time.