The establishment of a trust company shall be approved by the China Banking Regulatory Commission and obtain a financial license.

2 legal basis

Measures for the Administration of Trust Companies (CBRC Order [2007] No.2) and Measures for the Implementation of Administrative Licensing of Non-bank Financial Institutions of China Banking Regulatory Commission (CBRC Order [2007] No.0/3).

3 application conditions

The establishment of a trust company shall meet the following conditions:

(1) Having articles of association that comply with the Company Law of People's Republic of China (PRC) and the provisions of the China Banking Regulatory Commission;

(2) Shareholders who meet the requirements of the China Banking Regulatory Commission;

(3) Having the minimum registered capital that meets the requirements of these Measures;

(4) Having directors, senior managers and trust practitioners who meet the requirements of the China Banking Regulatory Commission;

(5) Having a sound organizational structure, operating rules for trust business and risk control system.

(6) Having business premises, safety precautions and other business-related facilities that meet the requirements;

(7) Other conditions stipulated by China Banking Regulatory Commission.

4 registered capital requirements

The minimum registered capital of a trust company is 300 million yuan or its equivalent in a freely convertible currency, and the registered capital is paid-in monetary capital.