预登记新规实施首月，非标信托数据来了

Core Viewpoint - The non-standard trust market showed significant recovery in September, with an increase in both the number and scale of products established, influenced by seasonal factors [1][3]. Summary by Category Market Performance - In September, 1,138 non-standard trust products were established, representing a month-on-month increase of 7.64%, with a total disclosed scale of 54.6 billion yuan, up 22.65% from the previous month [1][3]. Investment Areas - The scale of non-standard financial products reached 20.656 billion yuan in September, marking a month-on-month growth of 48.95%. This growth was largely driven by the transfer of credit asset rights, particularly at the end of the quarter when banks sought to adjust credit scales [6]. - The scale of trust products in the basic industry significantly increased to 30 billion yuan, reflecting an 18.55% month-on-month rise. This was attributed to performance pressures at quarter-end, local debt management improvements, and stable returns from infrastructure projects [5]. Regional Trends - In terms of regional investment, Jiangsu and Zhejiang provinces saw increases in trust establishment, while Shaanxi experienced a decline. Jiangsu's disclosed scale was 5.686 billion yuan (up 24.97%), Zhejiang's was 2.106 billion yuan (up 44.58%), and Shaanxi's was 2.255 billion yuan (down 9.94%) [7]. Average Expected Returns - The average expected return for non-standard trust products was 5.03% in September, a decrease of 0.13 percentage points from the previous month. This decline was influenced by new regulations requiring diversified investments and a broader monetary policy that kept financing costs low [8].