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 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 over 32 trillion yuan in mid-2024, indicating a recovery trend [2] Group 2: Asset Allocation Trends - By mid-2024, the scale of securities investment trusts reached 12.48 trillion yuan, accounting for 51.09% of the total trust assets, with a year-on-year increase of 3.38 trillion yuan [1][4] - Trust funds are increasingly flowing into the securities market, with over 10 trillion yuan directed towards this sector, driven by regulatory guidance and a shift towards standardized products [1][4] Group 3: Interest in Equity Assets - Trust funds allocated to the stock market increased to 0.78 trillion yuan by mid-2024, up from 0.72 trillion yuan at the beginning of the year, representing a rise in allocation percentage from 3.25% to 5.18% [5] - The demand for equity assets is growing, with a notable increase in the issuance of equity-related trust products, reflecting a shift in investment strategy among trust companies [5]