2 1 Shi Ji Jing Ji Bao Dao·2025-08-05 07:49Core Viewpoint - The establishment of the "Beijing Canal Cornerstone Charity Trust" aims to alleviate the financial burden on families with special needs by providing subsidies for real estate trust setup costs, particularly focusing on transaction taxes, with a maximum subsidy of 20,000 yuan per household [1][6]. Group 1: Trust Establishment and Purpose - The "Beijing Canal Cornerstone Charity Trust" was initiated to support families with special needs in Beijing by subsidizing the costs associated with establishing real estate trusts [1][5]. - The trust is a collaborative effort involving the Tongzhou District Civil Affairs Bureau, local citizens, and the Beijing Huizhong Charity Foundation, with Hua Bao Trust acting as the trustee [1][6]. Group 2: Special Needs Population Statistics - As of November 2024, there are approximately 35 million disabled elderly individuals in China, accounting for 11.6% of the total elderly population, with projections indicating this number could rise to 46 million by 2035 [2]. - The estimated population of individuals with intellectual disabilities in China ranges from 12 million to 20 million [2]. Group 3: Regulatory Framework and Implementation - The introduction of the "Notice on Regulating Trust Companies' Trust Business Classification" has led to increased interest in special needs trusts, particularly those involving real estate, as a means of ensuring long-term care and asset protection for vulnerable populations [3]. - The State Council approved a plan to explore the establishment of a registration mechanism for trust assets, including real estate and equity, under controlled risks [3]. Group 4: Financial Implications and Challenges - The current tax structure poses challenges for families establishing real estate trusts, as the tax rates on trust property transfers are higher than those for direct personal ownership, along with annual property taxes and capital gains taxes upon property disposal [5][6]. - The establishment of the charity trust is seen as a beneficial exploration of government guidance and social participation in addressing public welfare issues [6]. Group 5: Trust Management and Oversight - Hua Bao Trust will manage the trust assets professionally and prudently, ensuring that funds are used specifically for the intended subsidies [7]. - The China Postal Savings Bank will securely manage the trust funds and ensure timely disbursement to eligible families [7].