China's Digital Publishing Industry Sees Record Revenue Growth in 2024.

China's digital publishing revenue reached a new high of 1.75 trillion yuan ($245.9 billion) in 2024, an 8.07% increase YoY. The digital revenue from books, newspapers, and magazines showed steady growth, while emerging sectors such as online gaming, education, and animation saw significant revenue growth. The 15th China International Digital Publishing Expo will take place in Henan from August 28 to 31.

Chinese e-commerce giant JD.Com and its partners are planning to launch a Singapore-based real estate investment trust (REIT) potentially valued at over $1 billion. The move signals growing confidence in Singapore's REIT sector and underscores the increasing role of Chinese capital in Southeast Asia.

JD Property, the infrastructure investment and asset management platform of JD.Com, is setting up the REIT with Swiss investment firm Partners Group and EZA Hill Property, which is backed by Asian investment firm Hillhouse. The planned REIT could be listed on the Singapore Exchange as early as next year, according to two sources with knowledge of the matter [1].

The three investors are currently finalizing the REIT's asset composition, which is expected to include industrial properties in Singapore that the consortium acquired from CapitaLand Ascendas REIT for S$306 million ($238.56 million) this month. The companies are targeting further acquisitions of industrial and logistics assets across Southeast Asia, aiming to scale up the REIT [1].

The latest REIT plan in Singapore comes amid a tentative revival in the city's REIT market, which had seen a lull in new listings since 2021 due to rising interest rates and macroeconomic uncertainty. The recent initial public offering of NTT DC REIT and the surge in the benchmark index to record highs since late July show renewed investor appetite [1].

JD Property is also pursuing a separate market listing for itself via a Hong Kong IPO, although the timeline for the IPO is not known. JD Property is part of JD.Com's "new businesses" segment, which includes JD Food Delivery, Jingxi, and overseas ventures [1].

References:
[1] https://economictimes.indiatimes.com/markets/digital-real-estate/realty-news/china-tech-giant-jd-com-unit-two-other-firms-plan-1-billion-singapore-reit-sources/articleshow/123542262.cms