信托业成32万亿元“大块头” 对权益资产兴趣愈发浓厚

Core Insights - The trust industry in China has seen significant growth, with total trust assets reaching 32.43 trillion yuan by the end of June, marking a year-on-year increase of 20.11% [1][2] - The shift towards asset management and service trusts has become the dominant business model, replacing traditional financing and channel trusts [2] Group 1: Industry Growth - As of June, the total trust asset scale increased by 2.87 trillion yuan compared to the end of last year, reflecting a growth rate of 9.73% [1][2] - The trust asset scale has rebounded from a low of 20.49 trillion yuan at the end of 2020 to a historical peak of over 32 trillion yuan in 2024 [2] Group 2: Asset Allocation Trends - By June, the balance of asset management trusts was approximately 24.43 trillion yuan, accounting for 75.33% of total trust assets [3] - Securities investment trusts reached 12.48 trillion yuan, representing 51.09% of the total scale of fund trusts, with an increase of 1.49 trillion yuan from the end of last year [4] Group 3: Shift to Securities Market - Trust funds have increasingly flowed into the securities market, with the proportion of securities investment trusts rising from 34.34% at the end of 2022 to 51.09% by mid-2025 [4] - The interest in equity assets has grown, with trust funds allocated to the stock market increasing to 0.78 trillion yuan, up from 0.72 trillion yuan at the beginning of the year [7] Group 4: Company Strategies - Several trust companies have reported a trend towards increasing securities asset allocation, with notable growth in their asset management product offerings [5] - The diversification of financial instruments in the securities market and the deepening transformation of the trust industry have made securities assets a competitive focus for trust companies [5]