China

China Daily | English | News | Jan. 9, 2026 | UndeterminedReal Estate

China launched a pilot program for commercial property real estate investment trusts (REITs) on December 31, 2025, marking a significant shift in the real estate sector’s development model. The program, approved by the China Securities Regulatory Commission (CSRC) and supported by the Shanghai and Shenzhen stock exchanges, allows market participants to apply for issuing commercial property REITs, focusing initially on commercial complexes, retail properties, office buildings, and hotels. The pilot will proceed cautiously, emphasizing quality, compliance, and risk management.

Commercial property REITs are designed to provide stable cash flows through public investment in income-generating commercial real estate, encouraging property companies to move away from a debt-heavy, rapid turnover business model toward asset-light, operations-focused growth. As equity-based instruments, REITs offer developers an alternative funding source that reduces balance-sheet leverage, improves liquidity, and enhances cash-flow stability by converting illiquid assets into tradable securities.

The initiative aligns with broader structural reforms in China’s real estate market, responding to calls for a model shift from new home sales to holding income-producing properties and providing diversified services. Analysts emphasize that REITs are crucial financial tools facilitating this transition, contributing to a more sustainable and resilient sector. The pilot launch accompanies the continued growth of China’s REIT market, which already includes 78 infrastructure REITs with a market capitalization of 219.9 billion yuan ($31.5 billion).

The CSRC plans to further develop the REIT market by expanding REIT-related indices, supporting index-linked fund products, attracting long-term institutional capital, and promoting REIT inclusion in stock connect programs. Guidelines restrict the use of funds raised through commercial property REITs from purchasing land for commercial residential housing and introduce market-oriented return requirements tied to the yield on 10-year government bonds.

China-US Focus | English | AcademicThink | Jan. 9, 2026 | Political Scandal or Corruption

In early January 2026, Venezuelan President Nicolas Maduro was kidnapped and taken by U.S. military forces following strikes on Venezuelan territory, sparking global controversy. China condemned the U.S. actions as a severe violation of international law and state sovereignty, calling for Maduro’s immediate release and urging respect for Venezuela’s government. Beijing emphasized that leadership changes should occur internally, not through external military intervention, reflecting its broader stance against unilateral interference and its role as a permanent UN Security Council member representing the Global South.

The U.S. justified the operation by alleging drug trafficking and security threats originating from Venezuela, presenting the intervention as necessary for regional stability and the integrity of the oil sector. Critics argue that these claims are exaggerated and politically motivated, pointing out inconsistent U.S. actions toward other states involved in transnational crime. Venezuela's vast oil reserves are seen as a central factor in the U.S. motivation, highlighting a recurring pattern where resource control and geopolitical interests drive military interventions under the guise of security or humanitarian concerns.

The event reveals deep fractures in the post-World War II international system, undermining principles of sovereign equality and non-intervention. The UN Security Council’s paralysis due to veto power and geopolitical alliances has prevented decisive action against the U.S., signaling to smaller states that international law might be selectively enforced. The use of military force to override sovereignty threatens to replace a rules-based global order with one controlled by power politics, putting developing nations at risk of losing political autonomy and becoming subject to the interests of more powerful states.

The crisis in Venezuela exemplifies a broader shift towards a hierarchical international system where law serves the interests of the strong rather than justice. The article stresses that the core issue is not Maduro's legitimacy but whether the global community will allow sovereignty to be compromised by might and strategic convenience. Without substantial international response, this incident risks setting a precedent that could jeopardize the rule of law and global stability worldwide.

CNBC | English | News | Jan. 9, 2026 | Regulation

Chinese officials are reviewing Meta's $2 billion acquisition of the AI startup Manus for potential technology control violations. The review focuses on whether the relocation of Manus' staff and technology to Singapore and the subsequent sale to Meta require an export license under Chinese law.

The assessment by China's commerce ministry is at a preliminary stage and may not result in a formal investigation. However, the requirement for an export license could provide Beijing with leverage to influence or potentially block the transaction.

Meta completed the acquisition of Manus last month. Manus, a Singapore-based firm valued between $2 billion and $3 billion, gained attention earlier this year for releasing what it claimed to be the world's first general AI agent, which autonomously makes decisions and executes tasks with less prompting than AI chatbots like ChatGPT and DeepSeek.