Trust companies, in China, refer to financial institutions mainly engaged in trust business established in accordance with the Company Law of People's Republic of China (PRC) and the Measures for the Administration of Trust Companies. Trust company is a multilateral credit behavior based on trust entrustment, in the form of managing monetary funds and physical property, integrating financing and integration.
Trust business mainly includes two aspects: entrustment and agency. The former means that the property owner entrusts his property to others for the benefit of himself or his designee, and asks him to manage and operate it properly for a certain purpose; The latter refers to some economic affairs that one party authorizes the other party to handle on its behalf.
Trust business involves three parties: the principal, the trustee and the beneficiary. The person who transfers the property right, that is, the original owner of the property right is the principal; The person who accepts the entrustment to manage and operate the property on his behalf is the trustee; Those who enjoy property benefits are the beneficiaries.
There are many kinds of trusts, including personal trust, legal person trust, arbitrary trust, special trust, public trust, private trust, self-interest trust, other benefit trust, capital trust, movable property trust, real estate trust, business trust, non-business trust, civil trust and commercial trust.
At present, in addition to securities companies, fund companies and trust companies, there are also third-party wealth management companies. In a sense, the expansion and positioning of third-party wealth management companies in the asset management market are somewhat similar to those of today's private equity funds, and the expert financial management and flexible cooperation terms are bundled and grafted as a breakthrough to open the asset management market.
Trust business is flexible and adaptable, which is conducive to invigorating the economy and strengthening economic and technological cooperation between regions; It is conducive to absorbing domestic and foreign funds and supporting the equipment renewal and technological transformation of enterprises.