What is the development status of trust industry in China?

Trust industry in China has experienced more than 30 years' development since 1979 resumed. The promulgation of 200 1 Trust Law laid a legal foundation for the trust industry. In 2007, the China Banking Regulatory Commission promulgated the new Measures for the Administration of Trust Companies and the Measures for the Administration of Trust Plans of Trust Companies, which clarified the functional orientation of trust companies as wealth management institutions and laid the institutional foundation for the rapid development of the trust industry. According to the data released by china trustee association, there are currently 67 trust companies in the whole industry, and the scale of trust assets in the industry is growing rapidly. By the end of 20 12, it has exceeded 7 trillion, with a compound growth rate of 62% in 7 years. Trust has become the second largest financial sub-industry after banking. By the end of 20 12, the scale of assets actually managed by CITIC Trust was 59.81100 million yuan, of which the scale of trust assets was 59 1.3 billion yuan, and the scale of funds managed by fund management subsidiaries was 6.8 billion yuan. The scale of trust assets increased by 45.0% compared with the end of last year, ranking first in the industry for five consecutive years. With outstanding comprehensive strength and outstanding business performance, CITIC Trust has won many influential awards, such as National Financial May 1st Labor Award, Best Trust Company of the Year, Outstanding Company of the Year, Most Influential Trust Brand and Best Social Responsibility Award.