转型期信托公司各自求变，怎样做好消费金融？权益市场如何布局？

Core Viewpoint - The trust industry is entering a new phase of transformation following the major revision of the "Trust Company Management Measures" after 18 years, with a focus on enhancing capabilities and adapting to new market demands [1][8]. Group 1: Industry Transformation - The trust industry is increasing its business layout in areas such as green finance, pension finance, and digital finance, with noticeable differentiation in inclusive finance [1]. - Trust companies are urged to strengthen their capabilities in trust culture and professional talent to achieve high-quality development during the transformation [1]. - The shift towards digitalization and collaboration with leading internet platforms is seen as a crucial direction for trust companies to enhance inclusive finance and stimulate consumption [1][3]. Group 2: Consumption Finance - After a low period post-Spring Festival, trust issuance has shown signs of recovery, with consumption finance becoming a significant support [2]. - In March, the issuance of trust products reached 2,772, a month-on-month increase of 32.51%, with a disclosed issuance scale of 151.12 billion yuan, up 57.41% [2]. - Trust companies are exploring new positioning in the consumption finance sector, leveraging digitalization to reach previously inaccessible consumer segments [3]. Group 3: Collaboration and Market Reach - Huaxin Trust's collaboration with Meituan has reached over 72 million users, focusing on small payment scenarios, with an average loan amount of only 45 yuan [4]. - Huaxin Trust's inclusive finance scale was approximately 50 billion yuan by the end of last year, with cumulative credit granted to 420 million individual clients and over 4.2 million small and micro enterprises [4]. Group 4: Regulatory Environment - The trust industry has been undergoing continuous reform under regulatory guidance, with a focus on returning to core business and addressing challenges such as client loss and declining profitability [4][8]. - Recent regulatory documents emphasize the importance of the trust industry in serving the real economy and propose a framework for high-quality development [8][9]. - The Financial Regulatory Administration plans to revise the "Trust Company Management Measures" again by 2025, indicating ongoing regulatory evolution [9]. Group 5: Market Participation - Trust companies are increasingly participating in the capital market, with the total scale of trust funds reaching 19.95 trillion yuan, of which over 8 trillion yuan is directed towards the securities market [6]. - Various trust companies are engaging in direct investments and private equity funds to facilitate the entry of long-term funds into the market [7]. - The industry is encouraged to enhance equity investment capabilities and develop long-term equity products to support capital market participation [6][7].