{"id":325977,"date":"2022-07-26T21:21:26","date_gmt":"2022-07-26T13:21:26","guid":{"rendered":"https:\/\/www.mingtiandi.com\/?p=325977"},"modified":"2022-08-15T15:44:56","modified_gmt":"2022-08-15T07:44:56","slug":"greater-china-reits-seen-on-the-rise-mtd-tv","status":"publish","type":"post","link":"https:\/\/www.mingtiandi.com\/real-estate\/events\/upcoming-events\/sf-reit-cw-and-baker-mac-see-greater-china-reit-sector-on-the-rise-mtd-tv\/","title":{"rendered":"SF REIT, C&#038;W and Baker Mac See Greater China REIT Sector on the Rise: MTD TV"},"content":{"rendered":"<div class=\"container-lazyload container-vimeo js-lazyload--not-loaded\"><a href=\"https:\/\/player.vimeo.com\/video\/733537167?h=594244204a\" id=\"733537167\" class=\"lazy-load-vimeo preview-lazyload preview-vimeo\" data-video-thumbnail=\"https:\/\/i.vimeocdn.com\/video\/1476162290-45cfc1abd0ab66bc9d17579d69aa40312d969382a133a26ca3d4e9ac1e093b80-d_295x166\" data-video-title=\"Mingtiandi Asia REIT Forum 2022: Greater China REIT Opportunities 2022\" title=\"Play video &quot;Mingtiandi Asia REIT Forum 2022: Greater China REIT Opportunities 2022&quot;\">https:\/\/player.vimeo.com\/video\/733537167?h=594244204a<\/a><noscript>Video can&#8217;t be loaded because JavaScript is disabled: <a href=\"https:\/\/player.vimeo.com\/video\/733537167?h=594244204a\" title=\"Mingtiandi Asia REIT Forum 2022: Greater China REIT Opportunities 2022\">Mingtiandi Asia REIT Forum 2022: Greater China REIT Opportunities 2022 (https:\/\/player.vimeo.com\/video\/733537167?h=594244204a)<\/a><\/noscript><\/div>\n<p>&nbsp;<br \/>\nMore real estate investment trusts (REITs) are likely to be listed in mainland China and Hong Kong over the near term as policy support drives interest and growing investor awareness sparks demand, industry leaders told MTD TV on Tuesday.<\/p>\n<p>Speaking at the second session of Mingtiandi\u2019s Asia REIT Forum 2022, Hubert Chak, chief executive officer of SF REIT, which debuted as the first logistics-specific real estate investment trust on the Hong Kong exchange last year, pointed to the opportunity for investors to gain access to the income from vehicles targetting high-yielding asset classes like warehouses as boosting interest in the REIT sector.<\/p>\n<p style=\"text-align: center;\"><a data-no-instant=\"1\" href=\"https:\/\/ad.doubleclick.net\/ddm\/trackclk\/N6563.3378992MINGTIANDI\/B30546704.375324595;dc_trk_aid=566156183;dc_trk_cid=192150727;dc_lat=;dc_rdid=;tag_for_child_directed_treatment=;tfua=;ltd=;dc_tdv=1\" rel=\"noopener\" class=\"adv-link\" target=\"_blank\" aria-label=\"Copy of APAC_EN_Capabilities_Static_StandoutAPAC_780x250_Real Estate\"><img decoding=\"async\" src=\"https:\/\/www.mingtiandi.com\/wp-content\/uploads\/2023\/10\/Copy-of-APAC_EN_Capabilities_Static_StandoutAPAC_780x250_Real-Estate.jpg\" alt=\"\"  srcset=\"https:\/\/www.mingtiandi.com\/wp-content\/uploads\/2023\/10\/Copy-of-APAC_EN_Capabilities_Static_StandoutAPAC_780x250_Real-Estate.jpg 780w, https:\/\/www.mingtiandi.com\/wp-content\/uploads\/2023\/10\/Copy-of-APAC_EN_Capabilities_Static_StandoutAPAC_780x250_Real-Estate-400x128.jpg 400w, https:\/\/www.mingtiandi.com\/wp-content\/uploads\/2023\/10\/Copy-of-APAC_EN_Capabilities_Static_StandoutAPAC_780x250_Real-Estate-640x205.jpg 640w\" sizes=\"(max-width: 780px) 100vw, 780px\" width=\"780\" height=\"250\"   \/><\/a><script language='JavaScript1.1' src=\"https:\/\/ad.doubleclick.net\/ddm\/trackimpj\/N6563.3378992MINGTIANDI\/B30546704.375324595;dc_trk_aid=566156183;dc_trk_cid=192150727;ord=+ Date.now();dc_lat=;dc_rdid=;tag_for_child_directed_treatment=;tfua=;gdpr=${GDPR};gdpr_consent=${GDPR_CONSENT_755};ltd=;dc_tdv=1?\" attributionsrc ><\/script><\/p>\n<p>Joining Chak on the panel, Andrew Chan, managing director and head of valuation and advisory services for Greater China at Cushman &amp; Wakefield and Jeremy Ong, a partner at global law firm Baker McKenzie specialising in REITs, concurred on the opportunity to establish targetted portfolios, while also pointing to the stability and transparency of listed trusts of real assets as attracting more investors to the sector.<\/p>\n<p>The panel discussion, which was sponsored by Yardi, also looked at the impact that China\u2019s developing REIT sector is having on the market, after 14 trusts of real assets were listed on exchanges in Shanghai and Shenzhen over the past year, and with Hong Kong gradually liberalising its REIT code to enhance the sector\u2019s appeal.<\/p>\n<h3>Waiting for Data Centre REITs<\/h3>\n<p>During the discussion, Chak explained that by establishing SF REIT, its parent company SF Holdings, which also operates China\u2019s largest express messenger service, was able to recycle capital from a set of warehouses that it uses to operate its business, while still maintaining control over the properties and leasing them to its other business units.<\/p>\n\n\t\t<style type=\"text\/css\">\n\t\t\t#gallery-1 {\n\t\t\t\tmargin: auto;\n\t\t\t}\n\t\t\t#gallery-1 .gallery-item {\n\t\t\t\tfloat: left;\n\t\t\t\tmargin-top: 10px;\n\t\t\t\ttext-align: center;\n\t\t\t\twidth: 33%;\n\t\t\t}\n\t\t\t#gallery-1 img {\n\t\t\t\tborder: 2px solid #cfcfcf;\n\t\t\t}\n\t\t\t#gallery-1 .gallery-caption {\n\t\t\t\tmargin-left: 0;\n\t\t\t}\n\t\t\t\/* see gallery_shortcode() in wp-includes\/media.php *\/\n\t\t<\/style>\n\t\t<div data-carousel-extra='{\"blog_id\":1,\"permalink\":\"https:\\\/\\\/www.mingtiandi.com\\\/real-estate\\\/events\\\/upcoming-events\\\/sf-reit-cw-and-baker-mac-see-greater-china-reit-sector-on-the-rise-mtd-tv\\\/\"}' id='gallery-1' class='gallery galleryid-325977 gallery-columns-3 gallery-size-thumbnail-medium'><dl class='gallery-item'>\n\t\t\t<dt class='gallery-icon landscape'>\n\t\t\t\t<a href='https:\/\/www.mingtiandi.com\/attachment\/hubert-chak-sf-reit-resized\/'><img decoding=\"async\" data-attachment-id=\"323082\" data-orig-file=\"https:\/\/www.mingtiandi.com\/wp-content\/uploads\/2022\/07\/Hubert-Chak-SF-REIT-resized-e1682490579947.jpeg\" data-orig-size=\"779,774\" data-comments-opened=\"1\" data-image-meta=\"{&quot;aperture&quot;:&quot;0&quot;,&quot;credit&quot;:&quot;&quot;,&quot;camera&quot;:&quot;&quot;,&quot;caption&quot;:&quot;&quot;,&quot;created_timestamp&quot;:&quot;0&quot;,&quot;copyright&quot;:&quot;&quot;,&quot;focal_length&quot;:&quot;0&quot;,&quot;iso&quot;:&quot;0&quot;,&quot;shutter_speed&quot;:&quot;0&quot;,&quot;title&quot;:&quot;&quot;,&quot;orientation&quot;:&quot;0&quot;,&quot;keywords&quot;:&quot;Array&quot;}\" data-image-title=\"Hubert Chak, Executive Director and Chief Executive Officer, SF REIT\" data-image-description=\"\" data-medium-file=\"https:\/\/www.mingtiandi.com\/wp-content\/uploads\/2022\/07\/Hubert-Chak-SF-REIT-resized-e1682490579947-400x397.jpeg\" data-large-file=\"https:\/\/www.mingtiandi.com\/wp-content\/uploads\/2022\/07\/Hubert-Chak-SF-REIT-resized-e1682490579947.jpeg\" width=\"250\" height=\"250\" src=\"https:\/\/www.mingtiandi.com\/wp-content\/uploads\/2022\/07\/Hubert-Chak-SF-REIT-resized-250x250.jpeg\" class=\"attachment-thumbnail-medium size-thumbnail-medium\" alt=\"Hubert Chak, Executive Director and Chief Executive Officer, SF REIT\" aria-describedby=\"gallery-1-323082\" srcset=\"https:\/\/www.mingtiandi.com\/wp-content\/uploads\/2022\/07\/Hubert-Chak-SF-REIT-resized-250x250.jpeg 250w, https:\/\/www.mingtiandi.com\/wp-content\/uploads\/2022\/07\/Hubert-Chak-SF-REIT-resized-e1682490579947-150x150.jpeg 150w, https:\/\/www.mingtiandi.com\/wp-content\/uploads\/2022\/07\/Hubert-Chak-SF-REIT-resized-e1682490579947-90x90.jpeg 90w, https:\/\/www.mingtiandi.com\/wp-content\/uploads\/2022\/07\/Hubert-Chak-SF-REIT-resized-640x640.jpeg 640w, https:\/\/www.mingtiandi.com\/wp-content\/uploads\/2022\/07\/Hubert-Chak-SF-REIT-resized-420x420.jpeg 420w\" sizes=\"(max-width: 250px) 100vw, 250px\" \/><\/a>\n\t\t\t<\/dt>\n\t\t\t\t<dd class='wp-caption-text gallery-caption' id='gallery-1-323082'>\n\t\t\t\tHubert Chak, Executive Director and CEO, SF REIT\n\t\t\t\t<\/dd><\/dl><dl class='gallery-item'>\n\t\t\t<dt class='gallery-icon landscape'>\n\t\t\t\t<a href='https:\/\/www.mingtiandi.com\/attachment\/andrew-chan-cushman-wakefield\/'><img decoding=\"async\" data-attachment-id=\"323271\" data-orig-file=\"https:\/\/www.mingtiandi.com\/wp-content\/uploads\/2022\/07\/Andrew-Chan-Cushman-Wakefield-e1691506206935.jpeg\" data-orig-size=\"640,531\" data-comments-opened=\"1\" data-image-meta=\"{&quot;aperture&quot;:&quot;0&quot;,&quot;credit&quot;:&quot;&quot;,&quot;camera&quot;:&quot;&quot;,&quot;caption&quot;:&quot;&quot;,&quot;created_timestamp&quot;:&quot;0&quot;,&quot;copyright&quot;:&quot;&quot;,&quot;focal_length&quot;:&quot;0&quot;,&quot;iso&quot;:&quot;0&quot;,&quot;shutter_speed&quot;:&quot;0&quot;,&quot;title&quot;:&quot;&quot;,&quot;orientation&quot;:&quot;0&quot;,&quot;keywords&quot;:&quot;Array&quot;}\" data-image-title=\"Andrew Chan, Managing Director, Head of Valuation and Advisory Services, Greater China, Cushman &#038; Wakefield\" data-image-description=\"\" data-medium-file=\"https:\/\/www.mingtiandi.com\/wp-content\/uploads\/2022\/07\/Andrew-Chan-Cushman-Wakefield-e1691506206935-400x332.jpeg\" data-large-file=\"https:\/\/www.mingtiandi.com\/wp-content\/uploads\/2022\/07\/Andrew-Chan-Cushman-Wakefield-e1691506206935.jpeg\" width=\"250\" height=\"250\" src=\"https:\/\/www.mingtiandi.com\/wp-content\/uploads\/2022\/07\/Andrew-Chan-Cushman-Wakefield-250x250.jpeg\" class=\"attachment-thumbnail-medium size-thumbnail-medium\" alt=\"Andrew Chan, Managing Director, Head of Valuation and Advisory Services, Greater China, Cushman &amp; Wakefield\" aria-describedby=\"gallery-1-323271\" srcset=\"https:\/\/www.mingtiandi.com\/wp-content\/uploads\/2022\/07\/Andrew-Chan-Cushman-Wakefield-250x250.jpeg 250w, https:\/\/www.mingtiandi.com\/wp-content\/uploads\/2022\/07\/Andrew-Chan-Cushman-Wakefield-e1691506206935-150x150.jpeg 150w, https:\/\/www.mingtiandi.com\/wp-content\/uploads\/2022\/07\/Andrew-Chan-Cushman-Wakefield-e1691506206935-90x90.jpeg 90w, https:\/\/www.mingtiandi.com\/wp-content\/uploads\/2022\/07\/Andrew-Chan-Cushman-Wakefield-420x420.jpeg 420w, https:\/\/www.mingtiandi.com\/wp-content\/uploads\/2022\/07\/Andrew-Chan-Cushman-Wakefield-640x640.jpeg 640w, https:\/\/www.mingtiandi.com\/wp-content\/uploads\/2022\/07\/Andrew-Chan-Cushman-Wakefield-e1691506206935-260x260.jpeg 260w\" sizes=\"(max-width: 250px) 100vw, 250px\" \/><\/a>\n\t\t\t<\/dt>\n\t\t\t\t<dd class='wp-caption-text gallery-caption' id='gallery-1-323271'>\n\t\t\t\tAndrew Chan, Managing Director, Head of Valuation and Advisory Services, Greater China, Cushman &#038; Wakefield\n\t\t\t\t<\/dd><\/dl><dl class='gallery-item'>\n\t\t\t<dt class='gallery-icon landscape'>\n\t\t\t\t<a href='https:\/\/www.mingtiandi.com\/real-estate\/events\/join-the-mingtiandi-asia-logistics-forum-2022\/attachment\/jeremy-ong-baker-mckenzie-2\/'><img decoding=\"async\" data-attachment-id=\"313841\" data-orig-file=\"https:\/\/www.mingtiandi.com\/wp-content\/uploads\/2021\/12\/Jeremy-Ong-Baker-McKenzie-e1682999635501.jpg\" data-orig-size=\"600,596\" data-comments-opened=\"1\" data-image-meta=\"{&quot;aperture&quot;:&quot;0&quot;,&quot;credit&quot;:&quot;&quot;,&quot;camera&quot;:&quot;&quot;,&quot;caption&quot;:&quot;&quot;,&quot;created_timestamp&quot;:&quot;0&quot;,&quot;copyright&quot;:&quot;&quot;,&quot;focal_length&quot;:&quot;0&quot;,&quot;iso&quot;:&quot;0&quot;,&quot;shutter_speed&quot;:&quot;0&quot;,&quot;title&quot;:&quot;&quot;,&quot;orientation&quot;:&quot;0&quot;,&quot;keywords&quot;:&quot;Array&quot;}\" data-image-title=\"Jeremy Ong, Partner, Baker McKenzie\" data-image-description=\"\" data-medium-file=\"https:\/\/www.mingtiandi.com\/wp-content\/uploads\/2021\/12\/Jeremy-Ong-Baker-McKenzie-e1682999635501-400x397.jpg\" data-large-file=\"https:\/\/www.mingtiandi.com\/wp-content\/uploads\/2021\/12\/Jeremy-Ong-Baker-McKenzie-e1682999635501.jpg\" width=\"250\" height=\"250\" src=\"https:\/\/www.mingtiandi.com\/wp-content\/uploads\/2021\/12\/Jeremy-Ong-Baker-McKenzie-e1650943735749-250x250.jpg\" class=\"attachment-thumbnail-medium size-thumbnail-medium\" alt=\"Jeremy Ong, Partner, Baker McKenzie\" aria-describedby=\"gallery-1-313841\" srcset=\"https:\/\/www.mingtiandi.com\/wp-content\/uploads\/2021\/12\/Jeremy-Ong-Baker-McKenzie-e1650943735749-250x250.jpg 250w, https:\/\/www.mingtiandi.com\/wp-content\/uploads\/2021\/12\/Jeremy-Ong-Baker-McKenzie-e1650943735749-420x420.jpg 420w\" sizes=\"(max-width: 250px) 100vw, 250px\" \/><\/a>\n\t\t\t<\/dt>\n\t\t\t\t<dd class='wp-caption-text gallery-caption' id='gallery-1-313841'>\n\t\t\t\tJeremy Ong, Partner, Baker McKenzie\n\t\t\t\t<\/dd><\/dl><br style=\"clear: both\" \/>\n\t\t<\/div>\n\n<p>Baker McKenzie\u2019s Ong, who advised on SF REIT\u2019s $334 million IPO last year, pointed out that the same approach of an operating company spinning off real estate assets to free up capital, while continuing to run the business on the premises in the portfolio, could also be applied in other sectors, such as data centres.<\/p>\n<p>\u201cI do think that there will be data centre REITs in China and maybe even Hong Kong as well because it&#8217;s an asset class where I think it makes sense for the owner of the asset,\u201d said Ong. \u201cAny asset owner that has a heavy operation side like a data centre, I do think that this model makes sense for them \u2013 they can retain control, continue to utilise those assets and at the same time, reinvest in those parts that investors want to see grow.\u201d<\/p>\n<p>Cushman &amp; Wakefield\u2019s Chan concurred that targetted vehicles such as SF REIT represent an emerging trend in Asia\u2019s REIT world and predicted that there will be more companies following similar strategies.<\/p>\n<p>\u201cI think we do expect there\u2019ll be more and more sector-specialised REITs coming up on the market,\u201d said. \u201cNo matter if we are talking about Hong Kong REIT or even China REIT, we may have different specific sectors [like] IDC (internet data centre), and affordable housing as well as clean energy.\u201d he added.<\/p>\n<h3>Investor Appeal<\/h3>\n<p>With mainland China having listed a total of 14 REITs in Shanghai and Shenzhen over the past year, the market is beginning to attract more media coverage and investor attention, which the panelists agreed is leading to increased activity and a more liquid market.<\/p>\n<p>Although many REITs listed in Hong Kong own assets in China, the panelists also agreed that the debut of C-REITs provided benefits to Hong Kong\u2019s REIT market while competition remained limited because of some key differences between the two markets.<\/p>\n<p style=\"text-align: center;\"><a data-no-instant=\"1\" href=\"https:\/\/www.mingtiandi.com\/real-estate\/events\/oxford-ivanhoe-kic-savills-on-singapore-india-markets\/\" rel=\"noopener\" class=\"adv-link\" target=\"_blank\" aria-label=\"14 NOVEMBER 2023 conrad centennial Singapore\"><img decoding=\"async\" src=\"https:\/\/www.mingtiandi.com\/wp-content\/uploads\/2023\/11\/14-NOVEMBER-2023-conrad-centennial-Singapore.jpg\" alt=\"\"  srcset=\"https:\/\/www.mingtiandi.com\/wp-content\/uploads\/2023\/11\/14-NOVEMBER-2023-conrad-centennial-Singapore.jpg 780w, https:\/\/www.mingtiandi.com\/wp-content\/uploads\/2023\/11\/14-NOVEMBER-2023-conrad-centennial-Singapore-400x128.jpg 400w, https:\/\/www.mingtiandi.com\/wp-content\/uploads\/2023\/11\/14-NOVEMBER-2023-conrad-centennial-Singapore-640x205.jpg 640w\" sizes=\"(max-width: 780px) 100vw, 780px\" width=\"780\" height=\"250\"   \/><\/a><\/p>\n<p>While the REIT market in China is driven to some extent by public policy, in Hong Kong diversification and capital reinvestment are the biggest drivers for companies listing trusts of real assets, Ong said.<\/p>\n<p>\u201cWe think that China and Hong Kong are different markets,\u201d Ong said. \u201cIf you want to list a commercial REIT, you don&#8217;t have to worry about those policy objectives.\u201d<\/p>\n<p>With China having now established REITs on its own exchanges, the panelists also pointed to the potential for the establishment of a \u201cREIT Connect\u201d scheme which would allow mainland investors to buy into Hong Kong REITs, and vice versa, as providing a potential boost for the market.<\/p>\n<p>As REITs are currently excluded from the Stock Connect system, which has already boosted share markets in Greater China, the panelists urged regulators to consider creating a REIT connect mechanism as a benefit to investors in both Hong Kong and the mainland.<\/p>\n<h3>MTD TV Returns in September<\/h3>\n<p>Today\u2019s session marked the conclusion of Mingtiandi\u2019s first ever REIT forum, with MTD set to return in September with its third annual <a href=\"https:\/\/www.mingtiandi.com\/real-estate\/events\/join-the-mingtiandi-apac-data-centre-forum-2022\/\">APAC Data Centre Forum<\/a>.<\/p>\n<p>Expanded to six sessions this year, the data centre forum will feature panel discussions on hyperscale networks and on sustainable data centres, as well as dedicated sessions on the Greater China, Japan and Korea markets.<\/p>\n<p style=\"text-align: center;\"><a data-no-instant=\"1\" href=\"https:\/\/www.mipim-asia.com\/?utm_source=mingtiandi&#038;utm_medium=barter_website&#038;utm_campaign=mipimasia2023\" rel=\"noopener\" class=\"adv-link\" target=\"_blank\" aria-label=\"AR-607487_Mipim Asia_23_Banner Resize 780&#215;250\"><img decoding=\"async\" src=\"https:\/\/www.mingtiandi.com\/wp-content\/uploads\/2023\/10\/AR-607487_Mipim-Asia_23_Banner-Resize-780x250-1.jpg\" alt=\"\"  srcset=\"https:\/\/www.mingtiandi.com\/wp-content\/uploads\/2023\/10\/AR-607487_Mipim-Asia_23_Banner-Resize-780x250-1.jpg 780w, https:\/\/www.mingtiandi.com\/wp-content\/uploads\/2023\/10\/AR-607487_Mipim-Asia_23_Banner-Resize-780x250-1-400x128.jpg 400w, https:\/\/www.mingtiandi.com\/wp-content\/uploads\/2023\/10\/AR-607487_Mipim-Asia_23_Banner-Resize-780x250-1-640x205.jpg 640w\" sizes=\"(max-width: 780px) 100vw, 780px\" width=\"780\" height=\"250\"   \/><\/a><\/p>\n<p>In October, Mingtiandi return to a physical stage with its <a href=\"https:\/\/www.mingtiandi.com\/real-estate\/events\/mingtiandi-singapore-focus-forum-2022\/\">Singapore Focus Forum 2022<\/a>, a full day event on-site at the Lion City\u2019s ParkRoyal Marina Bay hotel, which will also be carried on MTD TV.<\/p>\n<p>The Singapore forum features a one-on-one interview with Warburg Pincus head of Southeast Asia and head of Asia Pacific real estate Jeffrey Perlman, and a series of panel discussions with industry leaders including Blackstone managing director Peng Wei Tan and Terence Teo of TE Capital, as well as experts from JLL, Cushman &amp; Wakefield and ESR-affiliated blockchain investment platform SDAX, which was formerly known as SDAX Minterest.<\/p>\n","protected":false},"excerpt":{"rendered":"<div class=\"container-lazyload container-vimeo js-lazyload--not-loaded\">https:\/\/player.vimeo.com\/video\/733537167?h=594244204aVideo can&#8217;t be loaded because JavaScript is disabled: Mingtiandi Asia REIT Forum 2022: Greater China REIT Opportunities 2022 (https:\/\/player.vimeo.com\/video\/733537167?h=594244204a)<\/div>\n<p>&nbsp; More real estate investment trusts (REITs) are likely to be listed in mainland China and Hong Kong&#8230;&nbsp;<a href=\"https:\/\/www.mingtiandi.com\/real-estate\/events\/upcoming-events\/sf-reit-cw-and-baker-mac-see-greater-china-reit-sector-on-the-rise-mtd-tv\/\">Read&nbsp;More>><\/a><\/p>\n","protected":false},"author":12201,"featured_media":325981,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_genesis_hide_title":false,"_genesis_hide_breadcrumbs":false,"_genesis_hide_singular_image":false,"_genesis_hide_footer_widgets":false,"_genesis_custom_body_class":"","_genesis_custom_post_class":"","_genesis_layout":"","footnotes":""},"categories":[3456],"tags":[7094,8974,4,503,5382,5359,694,8380,8400,8559],"ppma_author":[8848],"authors":[{"term_id":8848,"user_id":12201,"is_guest":0,"slug":"beatrice-laforga","display_name":"Beatrice Laforga","avatar_url":"https:\/\/secure.gravatar.com\/avatar\/d4be689d8f5a82939d685df6ef171fcb?s=96&d=mm&r=g","user_url":"","last_name":"Laforga","first_name":"Beatrice","description":""}],"_links":{"self":[{"href":"https:\/\/www.mingtiandi.com\/wp-json\/wp\/v2\/posts\/325977"}],"collection":[{"href":"https:\/\/www.mingtiandi.com\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.mingtiandi.com\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.mingtiandi.com\/wp-json\/wp\/v2\/users\/12201"}],"replies":[{"embeddable":true,"href":"https:\/\/www.mingtiandi.com\/wp-json\/wp\/v2\/comments?post=325977"}],"version-history":[{"count":0,"href":"https:\/\/www.mingtiandi.com\/wp-json\/wp\/v2\/posts\/325977\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.mingtiandi.com\/wp-json\/wp\/v2\/media\/325981"}],"wp:attachment":[{"href":"https:\/\/www.mingtiandi.com\/wp-json\/wp\/v2\/media?parent=325977"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.mingtiandi.com\/wp-json\/wp\/v2\/categories?post=325977"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.mingtiandi.com\/wp-json\/wp\/v2\/tags?post=325977"},{"taxonomy":"author","embeddable":true,"href":"https:\/\/www.mingtiandi.com\/wp-json\/wp\/v2\/ppma_author?post=325977"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}