Trust is divided into single trust and collective trust. A single trust means that an investor purchases all the trust lines and issues a filing system based on the People's Bank of China. If there is a redemption problem after the expiration of the trust, the trust will not bear the responsibility, and the investors and users will negotiate on their own. At this time, trust is only used as a channel. Collective trust is the approval system of China People's Bank. After the design of trust products is completed, they can be issued and raised only after being approved by the People's Bank of China. In terms of product operation, trust companies should do due diligence supervision and be responsible for payment at maturity. If there is a problem, the trust company should bear the responsibility and even use the risk reserve to pay it rigidly. This reflects the management of trust.

The difference between the two is that the distribution methods are different, one is the filing system and the other is the examination and approval system. The subject of responsibility is different, one is as a channel and the other is as a supervision. For different investors, one is a single investor and the other is a group fund-raising. If you subdivide it, you can find the difference, but personally, I think the above three points are the most obvious.