The future of the trust industry is uncertain Collector: Mr. Kewang 2010-06-05?|?Views: 130?Reprints: 2?|?Share? |Source The future of the trust industry is uncertain. From the restoration of China’s trust industry in 1979 to the present, in the past 23 years,

There is almost no industry that is as full of imagination as the trust industry. People in the industry laugh at themselves as "they have done everything except drug trafficking, but they have done nothing well."

In China's trust industry, which has always given people the impression of going through many vicissitudes, a famous saying by Scott, an authority on the American trust industry, is widely known: "The scope of application of trust is comparable to human imagination." The development process of China's trust industry is also

In fact, it confirmed Scott's expectations from a unique aspect.

It can be said that in the 23 years since China's trust industry was restored in 1979, almost no industry has been as full of imagination as the trust industry.

During this trial period, which is full of exciting opportunities but also full of risks, trust companies have used their imaginations in various compliant or non-compliant areas, but their exploration in the trust industry has been very limited.

According to the work arrangements of the People's Bank of China, at the end of 2002, the fifth trust rectification, which was regarded by industry insiders as "reinventing the market and starting over again", was about to come to an end.

The new imaginary environment brought about by the promulgation and implementation of the "Trust Law", "Trust Investment Company Management Measures" and "Trust Investment Company Fund Trust Management Measures" (one law, two regulations), many new trust products with new

Imagination style is launching strongly.

After undergoing the fifth round of reorganization, can the trust industry become the troika of China's financial industry, keeping pace with banks and insurance?

1. The Fifth Restart Compared with the ups and downs of the trust industry, the Chinese trust industry after July 2002 feels refreshing.

In July 2002, individual trust products suddenly emerged from all over China: Shanghai's Aijian Trust and Shanghai SDIC launched the Shanghai Outer Ring Tunnel and Shanghai Maglev Transportation Project Trust respectively; Beijing SDIC launched the Beijing Business Center Land

Development project fund trust; Chongqing SDIC launched education trust; Xinjiang's Jinxin Trust launched the "Urumqi Passenger Taxi Project Plan"; Xiamen SDIC financed major government projects.

Perhaps the cautious mentality brought about by many rectifications has always remained in the memory of people in the trust industry. Even with the hot sales of these trust products, the industry's opinions are very different. Some people applaud it and think it shows the development of the trust industry.

Spring is here; some people are worried that this will lead to another chaotic situation of chaos.

The history of China's trust industry can be traced back to 1979. In October 1979, the Bank of China established the Trust Consulting Department, and the first trust institution appeared in my country. In the same year, the establishment of China International Trust and Investment Corporation meant that independent trust companies officially entered the Chinese market. financial stage.

Since then, the number of trust companies nationwide has grown to more than 1,000. Even at the end of 1998, before the fifth clean-up and rectification, there were 239 trust investment companies with legal person qualifications in the country, with total assets of approximately 600 billion yuan.

In the more than 20 years of development of my country's trust industry, it has been subject to five clean-ups and rectifications, with an average of one clean-up and rectification every four years.

In comparison, the fifth clean-up and rectification that began in 1999 was the most severe one. The State Council decided to return the trust industry to its original business through this clean-up and rectification, requiring trust investment companies to truly engage in the business of fiduciary financial management.

Industry insiders refer to this rectification as "tear down and start over."

After the unforgettable rectification, the trust industry has received such positive attention and applause, which not only reassures those in the trust industry, but also highlights the good intentions of the regulatory agencies.

According to the requirements of the fifth rectification by the regulatory agency, the trust investment companies that have completed re-registration in the fifth rectification are in strict accordance with the "Trust Law", "Measures for the Administration of Trust Investment Companies" and the relevant requirements of the People's Bank of China to achieve trust and

Separate securities, a "new" trust investment company based on the trust business of "entrusting others to manage finances on their behalf".

In the future, trust investment companies will no longer be "quasi" banking institutions with deposits and loans as their main business, nor will they be "quasi" securities institutions operating securities brokerage business. Instead, they will be an important player in the capital market that plays the role of property management and medium- and long-term financing.

Non-bank financial institutions.