深度｜“把房子装进信托”扩围，全国多地探索不动产信托登记试点

Core Viewpoint - The pilot program for real estate trust property registration is rapidly expanding, with Suzhou becoming the sixth city to implement this initiative, addressing challenges such as high costs and supply-demand mismatches in the process [1][2][3]. Group 1: Expansion of Real Estate Trust Registration - The real estate trust involves transferring property to a trust institution for management and disposition, addressing issues of unclear ownership and high transaction costs [2]. - Suzhou's first real estate service trust product includes various assets like property and cash, marking a significant step in the trust registration process [2]. - The pilot program has expanded to six cities, including Beijing, Shanghai, and Guangzhou, within a year, indicating strong market interest [3]. Group 2: Application Scenarios and Innovations - The pilot program has shown a trend of expanding application scenarios, including wealth inheritance and special needs for the elderly [4]. - Guangzhou introduced a pre-registration system to address common issues in real estate trust establishment, marking a significant innovation in the field [5]. Group 3: Challenges in Implementation - High tax costs associated with the "non-transaction transfer" method pose a significant challenge, leading to potential double taxation during the trust establishment and disposal phases [6][7]. - The lack of clarity regarding tax subjects and applicable rates complicates the registration process, increasing costs for both trust companies and clients [6][7]. Group 4: Need for Systematic Improvements - The rapid expansion of the pilot program highlights the need for top-level institutional arrangements and collaboration among various stakeholders to facilitate large-scale promotion [8]. - There is a call for a unified national framework for real estate trust registration to address systemic deficiencies in legal, tax, and risk management aspects [9][10].