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What industries does finance include?

Finance includes banking, insurance, trust, securities and leasing industries. The financial industry refers to a special industry that operates financial products. Banks and related capital cooperatives. In addition to industrial economic activities, other economic activities are financial industries.

Introduction to the banking industry:

The banking industry in our country refers to the People’s Bank of China, regulatory agencies, self-regulatory organizations, and commercial banks established within the territory of the People’s Republic of China , urban credit cooperatives, rural credit cooperatives and other financial institutions that absorb public deposits, non-bank financial institutions and policy banks. Banks are financial institutions that engage in currency and credit business. They act as credit intermediaries by issuing credit currency, managing currency circulation, adjusting capital supply and demand, handling currency deposits, loans and settlements. Banks are the main body of the modern financial industry and the hub of the national economy.

Introduction to the insurance industry:

The insurance industry refers to an industry that uses funds pooled in the form of contracts to compensate the economic interests of the insured. Insurance means that the policy holder pays insurance premiums to the insurer in accordance with the contract, and the insurer assumes the liability for compensation for property losses caused by the occurrence of possible accidents stipulated in the contract, or when the insured dies, becomes disabled, or becomes disabled. The act of assuming responsibility for paying insurance benefits when reaching the age and period specified in the contract. The insurance market is a place where insurance is bought and sold, where both parties sign insurance contracts. It can be a centralized tangible market or a decentralized intangible market.

Introduction to the trust industry:

Trust Industry: Trust is one of the four pillars of the financial industry together with banking, insurance and securities. Its original meaning is "trusted by Entrusted by others, manage finances on their behalf.” According to the definition of trust in Chapter 1, Section 1 of the Trust Law, trust “refers to the trustor entrusting his property rights to the trustee based on his trust in the trustee, and the trustee entrusts his property rights to the trustee in his own name according to the wishes of the trustor. The act of managing or disposing of a property for the benefit of the beneficiary or for a specific purpose.