Trust company is a multilateral credit behavior based on trust and entrustment, in the form of monetary funds and physical property management, and integrating financing. It emerged with the development of commodity economy. Trust industry appeared in Britain in18th century. Trust business mainly includes two aspects: entrustment and agency. The former means that the property owner entrusts his property to others for the benefit of himself or his designee, and demands proper management and favorable operation for a certain purpose; The latter refers to some economic affairs that one party authorizes the other to handle on its behalf. Trust involves three parties: the principal, the trustee and the beneficiary. The person who transfers the property right, that is, the owner of the original property, is the principal; The person entrusted with the management and operation of property is the trustee; The beneficiary is the person who enjoys the property interest. There are many kinds of trusts, including personal trust, corporate trust, arbitrary trust, special trust, public trust, private trust, self-interest trust, other-benefit trust, capital trust, movable property trust, real estate trust, business trust, non-business trust, civil trust and commercial trust. Trust business is flexible and adaptable, which is conducive to invigorating the economy and strengthening regional economic and technological cooperation; It is conducive to absorbing domestic and foreign funds and supporting the equipment renewal and technological transformation of enterprises.
Definition of trust:
Trust refers to the act that the trustor entrusts his legally owned property to the trustee based on his trust in the trustee (trust and investment company), and the trustee manages or disposes in his own name for the benefit of the beneficiary or for a specific purpose according to the wishes of the trustor. Generally speaking, it is "entrusted by others to manage money for others".