On the morning of July 1st, 2020, the ceremony for the first deal of equity transfer in a house leasing enterprise was held at CFAE. Attendees included officials from the Ministry of Housing and Urban-Rural Development, the People's Bank of China, CFAE, China Construction Bank, Jianxin Housing, Greatwall Life Insurance and CICC. 

To implement the spirit of the 19th CPC National Congress "move faster to put in place a housing system that ensures supply through multiple sources, provides housing support through multiple channels, and encourages rental and sales simultaneously" as well as the spirit of the Central Economic Work Conference to "support the development of specialized and institutionalized house leasing enterprises" and "make great efforts to develop rental housing" , CFAE has innovatively launched its service for trading of equity in house leasing enterprises by actively exploring the investing and financing mechanism of rental housing, with information disclosure for the first batch of four house leasing enterprises completed in January 2020, including Beijing Jianxin Ruiju Property Service Co., Ltd. (hereafter referred to as "Jianxin Ruiju").

It was the first deal of its kind after CFAE launched its service for trading of equity in house leasing enterprises, under which, Jianxin Housing transferred 49% of 100% stake it held in Jianxin Ruiju, and Greatwall Life Insurance and Zhongjin Pucheng participated in the deal as joint transferees. The property held by Jianxin Ruiju, located in the core area of Wuxi, features clear ownership structure, stable rentals and good yields. Greatwall Life Insurance is a national insurance company, and Zhongjin Pucheng is a wholly-owned alternative investment subsidiary of CICC. This investment reflects high recognition of China's rental housing market and rental housing equity transfer service by insurance funds and professional market participants. The closing of the deal marks the formation of a closed loop from fund raising, investment and management to exit by Jianxin Housing in the rental housing investment sector, providing a good example for domestic house leasing enterprises to enhance the efficiency of capital allocation.

CFAE will continue to improve its rules and systems, optimize its service processes, enhance the service level of rental housing equity trading, and give full support to the cultivation of specialized and institutionalized house leasing enterprises, so as to promote accelerated development of China's rental housing market.