China Securities Regulatory.............>

CHINA PRESS: China Securities Regulatory Commission and the Ministry of Housing

and Urban-Rural Development published on Wednesday the first document supporting

house-leasing asset-backed securities (ABS) since the promotion of leasing

market development was first mentioned, Shanghai Securities News reported on

Thursday. The government will encourage house-leasing companies to issue ABS

backed by leasing properties, and will experiment on issuing real-estate

investment trusts, the report said. However, leasing properties as underlying

assets will not generate acceptable yields for ABS unless the government also

lowers land prices and taxes as it raises rent, noted the report, citing Ouyang

Jie, the senior vice president at Future Land, a Shanghai-based property

developer.