SHANGHAI, (Reuters) – China will soon launch its first real estate investment trusts (REITs), a public fund that invests in residential property. This is as the regulators intensify their efforts to funnel capital into the real estate industry and help a country suffering from the virus.

Each stock exchange in Shanghai and Shenzhen accepted applications for residential REITs that were backed with rental income from affordable housing.

These launches will increase the investor reach of China’s REITs. Previously, they were based on infrastructure projects like toll roads, logistics centers, and sewage plants.

Beijing does not yet have plans to permit REITs to funnel money into commercial property such as shopping malls or office towers. This is a common asset for REITs worldwide.

REITs, collectively known as collective investment schemes, allow you to sell shares in trusts that hold a portfolio of infrastructure or properties.

In a late Friday statement, China’s securities regulator (and its state planner) said that they can assist China in expanding funding sources for rentals housing projects. They also help to solve housing affordability.

The regulators published rules regarding the issuing of REITs for rental apartments.

China released guidelines this week to increase infrastructure investment, including releasing capital from existing projects. They also identified REITs among the tools.

Asset manager CICC Fund applied for residential REITs at the Shanghai Stock Exchange. Hotland Innovation Asset Management Co submitted a request to launch similar products via the Shenzhen Bourse.