In 2023, the Institute for Financial and Accounting Studies of Xiamen University launched its first national enrollment plan for the REITs research track in the master’s program. In 2024, the Institute officially introduced graduate-level courses in the REITs research direction. Mr. Zhao Bencai, an alumnus of the Department of Accounting at Xiamen University and founder of Deepreits Digital Technology, was invited to teach the course. The course “New Financial Paradigm: REITs.ai” is a frontier extension of IFAS’s graduate education in REITs. From the integrated perspective of AI, blockchain, and REITs, the course aims to enhance participants’ theoretical understanding and practical capabilities in the practice of China’s REITs market. It also seeks to cultivate high-level interdisciplinary talents who can adapt to the new financial paradigm. The course also attracted REITs researchers, managers, practitioners, and other professionals from across the country. It promoted the integration of industry-education integration, as well as the mutual enhancement of teacing and learning .

At 9:00 a.m. on July 1, 2026, the summer course “New Financial Paradigm: REITs.ai” officially began in Room 501, Jiageng Building 2. Professor Hu Jinshuai, Vice Dean of the Institute for Financial and Accounting Studies, delivered the opening remarks. He warmly welcomed the guest lecturers and expressed high expectations for the course.

Figure 1: Professor Hu Jinshuai, Vice Dean of the Institute for Financial and Accounting Studies, delivers the opening remarks.

The first part of the course was delivered by Mr. Lian Haixiang at the invitation of Mr. Zhao Bencai. Focusing on “An Overview of WEB3.0,” Mr. Lian introduced the development background and infrastructure of WEB3.0. He explained key concepts such as virtual currencies, stablecoins, and real-world assets (RWA). He also systematically explained the evolving framework of the financial system, with particular emphasis on the changes brought by blockchain technology to traditional financial models.

Figure 2: Mr. Lian Haixiang delivers the lecture.

Afterwards, Mr. Zhao Bencai gave an in-depth lecture on REITs. Drawing on mature global markets, the course focused on the institutional framework of REITs. It then built a theoretical framework for REITs analysis around five core modules: asset fundamentals, cash flows, regional macroeconomics, valuation, and risk. This framework helped participants better use AI agents and develop their own REITs knowledge system using natural language.

Building on this foundation, the course moved into its most exciting stage, covering theory, practice, and AI intelligence. Through the DeepReits multimodal model developed by Mr. Zhao, the course gradually unpacked the application of AI in the REITs field. From training AI to learn the development history of international REITs, to building a global REITs knowledge graph, and further to automatically generating REITs valuation and analysis reports based on global REITs experience and China’s REITs practice data, the course demonstrated the full-chain application of AI in REITs research.

Figure 3: Mr. Zhao Bencai delivers the lecture.

The summer course not only systematically introduced the complete theoretical knowledge system of REITs, but also helped participants improve their practical AI skills. It encouraged them to pay attention to the profound changes brought by the digital economy to different industries. In particular, the course highlighted the application prospects of emerging technologies such as AI Agents and multimodal tools, further broadening participants’ professional horizons in the era of digital finance.

The course was highly recognized by participants. After the course concluded, the Institute received reflections from several participants. Looking ahead, IFAS will continue to leverage its educational resources, focus on national strategic needs and frontier industry trends, and further improve its interdisciplinary curriculum system. The Institute will continue to cultivate high-level interdisciplinary talents for the development of China’s REITs industry. Selected participant reflections are presented below.

Zuo Guiyu from Huazhu Hotels Group shared:“I am very honored to have participated in the summer course ‘New Financial Paradigm: REITs.ai’ offered by IFAS at Xiamen University. Mr. Zhao Bencai’s practice-oriented teaching approach, supported by AI tools, was highly rewarding. With his long-term dedication to this field and deep insights into the REITs industry in China and abroad, Mr. Zhao used AI technology to build a systematic REITs knowledge graph. This not only helps participants quickly grasp the main logic of REITs learning, but also provides inspiration for their future research and professional work.In terms of multi-agent collaboration, Mr. Zhao demonstrated how AI agents can generate high-quality and reliable  analytical reports. He used tools such as Tableau to build a data analysis framework, drew on excellent international cases as references, and ultimately developed a research methodology suited to China’s characteristics. This systematic approach greatly inspired me. In the future, I plan to apply this framework to hotel feasibility studies and business management. I also hope to receive further guidance from Mr. Zhao. The Xiamen University course ‘New Financial Paradigm: REITs.ai’ is a highly practical course that applies AI agents to the REITs field.”

Gu Lei from Shanghai Yuaisuan Technology Co., Ltd. shared:“Mr. Zhao’s course is grounded in a global perspective and an international REITs theoretical framework. It provided an in-depth explanation of the historical evolution and classification of REITs, and looked ahead to the opportunities and challenges of China’s rapidly developing REITs market. First, the course explained the application of blockchain technology in the RWA field in an accessible way. It was both forward-looking and practical. Second, the course emphasized application and practice by applying advanced AI technologies to the REITs field. It inspired students to explore the use of AI tools independently and laid a skills foundation for future employment and practice.”

Zhu Chao from the School of Accountancy, Singapore Management University, shared:“From July 1 to July 3, 2026, I had the honor of participating in the summer course ‘New Financial Paradigm: REITs.ai’ organized by IFAS at Xiamen University. Mr. Zhao’s course was rich in content and clearly delivered. It systematically reviewed the development history of REITs in China and abroad, explained frontier developments in blockchain and RWA, and built a theoretical system for AI-empowered REITs research.As a doctoral student who has long been engaged in industrial park operation practice, the three-day course gave me a new understanding of the integration between industry and technology. It also deepened my understanding of the core value of AI tools. Going forward, I will further integrate AI methods into REITs academic research and industrial park management practice, so as to better understand the positioning of REITs development in China. The Xiamen University course ‘New Financial Paradigm: REITs.ai’ not only enhanced participants’ practical ability to use AI to solve REITs-related problems, but also fundamentally built a theoretical framework for the application of AI in the REITs field.”

Xu Hao from Soochow Fund Management Co., Ltd. shared:“The three-day course ‘New Financial Paradigm: REITs.ai’ offered by IFAS at Xiamen University moved from theory to practice and from international experience to China’s local context. It fully demonstrated the increasingly important and irreplaceable role of AI tools in REITs and RWA research. Mr. Zhao has rich practical experience in REITs. He demonstrated the targeted application processes of agents, Tableau, Longxia, and multimodal models. This gave us deeper inspiration for applying AI tools in our future work.In the future, AI will certainly transform existing workflows and processes from multiple dimensions. Professionalization and AI-driven development will become irreversible trends. The Xiamen University course ‘New Financial Paradigm: REITs.ai’ is innovative in China’s REITs education and practice. It provides a new perspective for the development of the industry.”

Text: Zheng Xiyan
Photos: Deng Cai