China Advocacy Committee
Mission & Goals
The goal of APREA’s advocacy in China is to help grow Chinese real estate as an attractive investment asset class by bringing the world's best thinking on real estate policy and regulatory frameworks to China for adaption for Chinese circumstances.
Main Principle
The current principal focus of APREA’s advocacy in China is to help introduce a state-of-the-art Chinese REIT code that covers all real asset sectors and, ultimately, provide tax flow-through benefits. The China Advocacy Committee will contribute to improve APREA’s capacity to engage with regulators and respond to technical issues (including transition rules, the tax treatment of REITs, listing rules, treatment of SPVs in REIT funds, gearing limits, development rules, etc.).
Committee Chair

Cheng Hei-Ming
Founder & Chairman
KaiLong Group
Cheng Hei-Ming
Founder & Chairman
KaiLong Group
With over 30 years of real estate experience, Mr. Cheng’s work experience has covered a comprehensive range of activities, including ground up real estate development, real estate investment, fund management, business consulting, commercial banking operations, liquidity, and interest rate risk management. As one of the key founding members of KaiLong in 2004, Mr. Cheng has built and led the team to become a leading player in Asian Pacific, Greater China and London‘s vibrant investment and asset management market. To date, KaiLong has invested a total of over US$3.5 billion in 52 real estate projects. Of these, 30 have already been exited with excellent risk adjusted returns .
Before joining KaiLong, Mr. Cheng was the General Manager of Shui On Land. He oversaw the development and operations of Rainbow City, City Apartment, and Hangzhou Xi Hu Tiandi , as well as participating in the construction and operations management of Shanghai Xintiandi. Prior to that, Mr. Cheng held various senior positions with Standard Chartered Bank, including Greater China Head of Finance and Risk and Senior Manager of Marketing and Operations.
In 2011 Mr Cheng founded KFoundation together with generous support from KaiLong employees and friends, uniting the KaiLong community under our shared mission to give back to society Since its inception, KFoundation has raised over RMB 13 million KFoundation has sponsored a total of over 2 500 students varying from secondary school to university.

Professor Meng Xiaosu
Chairman, Huili Fund Leader
REITs Research of State Council Development Department
Professor Meng Xiaosu
Chairman, Huili Fund Leader
REITs Research of State Council Development Department

HU FENG
Senior Director of Cushman & Wakefield Head of Valuation & Advisory Service, North China
EMBA, Renmin University of China
Deputy General Secretary of CREAFC
Council member of China Real Estate Association
HU FENG
Senior Director of Cushman & Wakefield Head of Valuation & Advisory Service, North China
EMBA, Renmin University of China
Deputy General Secretary of CREAFC
Council member of China Real Estate Association
Hu Feng has more than 15 years of professional experience in real estate valuation industry. His specializations include due diligence and property valuation of real estate finance, property investment, mergers and acquisitions.
He took a crucial role in appraisal work of Hong Kong IPO listing of Wanda Group, Modern Land (China) and Haichang Real Estate. Besides, he was in charge of the appraisal of many major mergers and acquisition projects, including China Life's acquisition of Joy City.
Hu Feng pioneers in China REITs market research and valuation of REITs properties in 2007. His team has taken the lead in real estate securitization valuation industry and taken over more than 50% market share. Their projects include Zhongxin quasi-REITs, Suning quasi-REITs, Beijing Yintai quasi-REITs, Huamao SKP-CMBS, Financial Street central office CMBS, CYPA Rental apartment quasi-REITs, Yuexiu Real Estate Rental apartment quasi-REITs, Cainiao logistic quasi-REITs and Beijing Hualian Singapore REITs, etc.
胡 峰
戴德梁行高级董事、北中国区估价及顾问服务部主管
中国人民大学商学院EMBA
中国房地产业协会理事、中国房地产业协会金融委员会副秘书长、中国房地产估价与经纪人学会理事、北京市党外高级知识分子联谊会理事、APREA亚太房地产协会中国区理事。
胡峰先生拥有超过15年房地产评估专业经验,擅长在房地产金融、物业投资、收购并购等的尽职调查和物业评估工作。
负责了万达商业地产香港H股上市及私有化、当代地产、海昌地产等上市物业评估工作,负责中国人寿入股大悦城等重大资产包收购、并购项目的评估工作。
自2007年开始参与中国REITs研究和试点项目物业评估工作至今,带领的团队负责了市场上超过50%不动产资产证券化物业评估项目,如:中信启航类REITs;中信苏宁系列类REITs; 北京银泰类REITs;华贸SKP商业CMBS、金融街中心写字楼CMBS、新派公寓类REITs、海南省人才租赁住房类REITs、越秀集团租赁住房类REITs、菜鸟物流类REITs等项目物业评估,并负责北京华联新加坡REITs物业评估工作等。

Jeremy Ong
Partner
Baker McKenzie
Jeremy Ong
Partner
Baker McKenzie
Jeremy Ong is a partner in Baker McKenzie's Hong Kong office and he leads the REITs practice in Hong Kong. He has over 15 years of experience advising REITs on their formation, acquisitions, disposals, equity/debt capital raising exercises and liability management exercises, and advised on almost all of Hong Kong's largest REIT transactions.
Jeremy has been recognised by Legal 500 as a "Next Generation Partner" in two key areas for REITs (investment funds; real estate) and his practice is also described by Chambers as “a trusted adviser to REITs” which is “often instructed to assist clients with IPOs and capital raisings”.

Tracey Zhang
Financial Services Leader, Tax
KPMG China
Tracey Zhang
Financial Services Leader, Tax
KPMG China

David Chen
Chairman
APREA China Chapter
Chairman and CEO
F.O.G Capital & Asset Management
David Chen
Chairman
APREA China Chapter
Chairman and CEO
F.O.G Capital & Asset Management
Having worked in China, the U.S., Hong Kong, Singapore, and Australia, Mr. Chen has vast and diverse experiences in real estate investment and financing, REITs, PERE fund management and asset management, real estate development, planning & design, and international business operations.
Mr. Chen is the Chairman & Chief Executive Officer of F.O.G. Capital & Asset Management Corp. (Fields of Gold Corp. - a real estate focused investment & asset management firm headquartered in Shanghai, China, and a Harvard China Fund partner for over 10 years) and the independent director of Yuexiu REITs (the World's first publicly listed REITs in Hong Kong in 2005 investing mainly in mainland properties). He also has been serving as the Development Head of China for a Top-10 Globally ranked real estate investment fund and as senior executive of one of the largest listed blue-chip real estate development groups in Hong Kong. He has also worked as senior architect in an international architectural firm in Boston, MA. USA.
Mr. Chen is a visiting professor at one of the top business schools in China- Cheung Kong Graduate School of Business (CKGSB). He was also a mentor for China Ren Min University’s MBA program. He teaches Real Estate and Capital Market related courses in Tsinghua University, Peking University, Shanghai Jiao Tong University and Tongji University. While living in the US, Mr. Chen was a Guest Lecturer at the BAC (Boston Architecture Center), where he taught architectural design and planning studios.

Cliff Chen
Managing Director
China, Blackstone Group
Cliff Chen
Managing Director
China, Blackstone Group

Alvin Loo
Head of China
ARA Asset Management
Alvin Loo
Head of China
ARA Asset Management