Trust has a tradition of rigid payment. Although there is no explicit provision, the CBRC has such requirements for trust companies. If there is a risk, the trust company will pay for the net assets, and then the trust company will handle the dispute in legal proceedings. Therefore, although there are many default risks of trust projects in the market, they are all defaults of trust companies by project policies, not defaults of trust companies to investors. What I am discussing here refers to the collective trust plan issued by the trust company as the active manager, excluding the trust company as the channel. Therefore, in the eyes of investors, the products issued by trust companies as active managers are relatively safer.

P2P, here we only discuss legal P2P, illegal is illegal fund-raising or illegal storage, and if we don't discuss it, it's illegal investment. Legal P2P is a personal loan, and the middleman only earns a service fee. The risk is under his control. If the materials are true and there is no active manager in the middle, it is necessary to judge whether the other party is reliable and how risky it is.

This is the difference between the two investment cores. Please accept my answer!