On March 23, ChinaAMC-CCCC Expressway Closed-end Infrastructure Securities Investment Fund launched by CCCC was officially approved by the China Securities Regulatory Commission, becoming the first expressway infrastructure REITs for central enterprises and the first approved REITs in 2022, marking the significant progress of CCCC's participation in the pilot work of infrastructure REITs.

Infrastructure REITs are a major innovation in infrastructure investment and financing mechanism, which is of great significance and importance to promote high-quality development, increase the proportion of direct financing and enhance the quality and effectiveness of capital market in serving the real economy.

The underlying assets of the fund is the Jiayu-Tongcheng section of the Wuhan-Shenzhen highway in Hubei Province invested by CCCC. The Wuhan-Shenzhen highway is a major thoroughfare linking the central and southern regions of China, with a large population and developed economy along the route and strong demand for road network. The highway has more comparative advantages than Beijing-Hong Kong-Macao Expressway in terms of travel distance, time, cost and experience, which will improve the traffic volume and efficiency of the highway.

A listing platform for CCCC's expressway assets is an important step for CCCC to implement the pilot task of building a country with strong transportation network and promote its high-quality development with reform and innovation. By building a listing platform for investment and financing based on REITs, CCCC will fully open up the channels to activate of fixed assets, create a full-cycle capital operation mode, continuously optimize the company's finance, and add new momentum to CCCC's development.