Trust asset structure optimization
Judging from the source structure of trust assets, the report pointed out that in the third quarter of this year, industry collective fund trusts continued to grow, management property trusts returned to the growth channel, and single fund trusts continued to decline, generally continuing the trend of "two liters and one drop".
By the end of the third quarter, the scale of collective fund trust was 10.94 trillion yuan, up 3.63% year-on-year, accounting for 5 1.90%, up 0.28 percentage points year-on-year; The scale of entrusted property trust was 6.06 trillion yuan, up 27.0 1% year-on-year, accounting for 28.75%, up 5.42 percentage points year-on-year; The scale of single fund trust was 4.08 trillion yuan, down 20.35% year-on-year, accounting for 19.35%, down 5.69 percentage points year-on-year.
In addition, the report shows that from the perspective of the functional structure of trust assets, as of the end of the third quarter of this year, the scale of industry investment trust business has continued to grow, reaching 9.22 trillion yuan, up 14.77% year-on-year, and it has maintained the first place in the functional classification of trust assets for three consecutive quarters this year.
Under the pressure of regulatory requirements and risk prevention and control, the scale of financing trusts continues to decline. By the end of the third quarter of this year, the scale was 3.08 trillion yuan, a sharp drop of 20.35438+0%. By the end of the third quarter, the scale of transaction management trust was 8.78 trillion yuan, up 2.65% year-on-year, accounting for 465,438+0.65%.
Image source: Comments on the development of trust industry in China in the third quarter of 2022.
The position of trust industry is becoming more and more stable.
The report pointed out that in the third quarter of 2022, the operating performance of the trust industry still faced great downward pressure, and its operating income, total profit and per capita profit all fell sharply year-on-year. The data shows that in the third quarter of this year, the industry achieved a total operating income of 67.352 billion yuan, down 22.82% year-on-year, and the year-on-year decline narrowed by 5.43 percentage points compared with the first quarter of this year, and the overall situation stabilized.
In addition, the report shows that by the end of the third quarter of this year, the total profit of the whole industry had reached 3830 1 billion yuan, a year-on-year decrease of 65.438+07.375 billion yuan and a decrease of 365.438+0.2 1%. Wang Yuguo said that this reflects the challenges faced by the current industry transformation and development to a certain extent. On the one hand, the innovative business layout should increase the basic investment in science and technology and innovative talents, and the cost will increase substantially, but the short-term profit contribution is not obvious; On the other hand, due to the increased exposure of risky assets in the industry, trust companies have increased their asset impairment reserves, which has weakened their profitability to some extent.
Image source: Comments on the development of trust industry in China in the third quarter of 2022.
Specifically, the inherent operating income and trust business income have declined to varying degrees. Among them, the investment income in the inherent business income has fallen sharply. In the first three quarters, the total investment income of the whole industry was 1, 6 1.33 billion yuan, down 1.2.89% year-on-year.
In terms of income structure, as of the end of the third quarter, the proportion of industry trust business income to operating income rose to 865,438+0.32%, up 8.87 percentage points year-on-year. From the overall situation in the first three quarters of 2022, the proportion of trust business income reached 93.43%, 77.78% and 865,438+0.32% respectively, both higher than the same period of previous years, and the status of trust business was increasingly consolidated.
The scale of investment in the securities market increased by more than 30% year-on-year.
According to the main business data of trust companies at the end of the third quarter disclosed by the trust industry, as of the end of the third quarter of this year, the scale of fund trust was 15.0 1 trillion yuan, down 0.66 trillion yuan year-on-year, or 4.20%, and 2.8 percentage points lower than the end of the second quarter.
Specifically, the scale and proportion of investment in the securities market and financial institutions continue to increase. By the end of the third quarter of this year, the trust scale of funds invested in the securities market was 41800 million yuan, a year-on-year increase of 36.80%; The proportion increased to 27.85%, up 8.35 percentage points year-on-year. The scale of fund trusts invested in financial institutions was 2 trillion yuan, a year-on-year increase of 5.32%; The proportion rose to 13.32%, up 1.2 1 percentage point year-on-year.
Wang Yuguo said that there is an obvious trend in the allocation of social wealth management funds, from non-standard assets to standardized assets. Compared with asset management peers such as funds, securities firms and bank wealth management, the trust industry is still small in scale and limited in participation, but it has basically become an industry transformation to accelerate the development of trust business in the securities market.
The report pointed out that in the next step, the trust industry will continue to innovate and develop and enhance its ability to serve the real economy. It is necessary to find a correct positioning, give play to the unique institutional advantages of connecting the three major markets of industry, currency and capital, actively provide financial support for small and medium-sized enterprises, and guide social funds to invest more in key areas such as inclusive finance, green finance and technology and finance; Deeply participate in asset revitalization and industrial structure upgrading and optimization, and help build a modern industrial system; Vigorously develop capital market business, actively participate in multi-level capital markets through asset management trust business, increase the proportion of direct financing, and provide more financial support for the development of the real economy.