Looking back, at present, the trust has one law and three regulations, and the supervision of the CBRC is getting stricter and stricter, just to minimize the occurrence of risk events.
Rigid redemption is actually unconventional. Where is the investment behavior, it is necessary to let the investment platform go to the bottom?
Furthermore, if the whole industry is promoted according to the principle of rigid redemption, do you still need to divide each project? You just need to see which project has high returns and buy which one. The core of trust project is risk control, which we can understand. The current trust is still a fixed income, but we must be prepared for danger in times of peace, put ourselves in the position of a real trust qualified investor, and choose suitable projects according to our ability to resist risks.
To make an inappropriate analogy, the only collateral for a political trust project in a domestic first-class city is the land use right worth three times its financing amount, with an annual income of 6,543.8+0,000, 9%.
The other project is a real estate trust project in a second-tier city in China. The collateral is 100% equity pledge of the financier, and the appraised value is only twice of the financing amount, and the annual income is 1000009%.
Obviously, the first project has more investment value, but if the second project becomes a first-class city in China at this time, the collateral will triple and the annual income will increase by 0.5%, then the financing of this project can be completed in a very short time.
The above is Hu Zou. If you think I'm not clear enough, you can ask more questions.
What about the products of CITIC Trust? Is the income stable?
I won't elaborate on CITIC Trust. There have been problems with projects, but it is understood that they are all rigid redemption.
The second half of the question really makes people unable to answer it seriously. Do you say the income is stable? If CITIC produces a floating income trust product, can it be stable? Fixed income trust, the contract says "expected annualized rate of return", but so far this credit is still guaranteed. This has been pursued from trust companies to CBRC.