信托业锚定高质量发展新航向

Core Insights - The trust industry in China is undergoing a transformation with the implementation of the "1+N" regulatory framework, which aims to solidify its foundation and optimize its structure while achieving significant growth in scale [1][2][3] Regulatory Framework - The "1+N" regulatory system is crucial for the stable development of the trust industry, with key policies guiding the transformation towards high-quality development [1] - The release of the "Asset Management Trust Management Measures (Draft for Comments)" and the revised "Trust Company Management Measures" provides a comprehensive policy framework for the industry [1] - The "three-category" policy delineates three main business directions: asset service trusts, asset management trusts, and public welfare trusts, which serve as fundamental guidelines for restructuring business functions [1][2] Industry Growth and Structure Optimization - As of June 2025, the total trust asset balance reached 32.43 trillion yuan, reflecting a year-on-year growth of 20.11% and a 9.73% increase from the end of the previous year [2][3] - The trust industry has solidified its position within the broader asset management sector, ranking third in asset scale behind insurance and public funds [2] - The asset management trust and asset service trust models have replaced traditional financing models, becoming the primary drivers of growth since 2021, with asset management trusts accounting for approximately 75.33% of total trust assets [3] New Opportunities and Market Trends - The trust industry is exploring differentiated development paths, focusing on specialized sectors such as energy and advanced manufacturing [4] - The growing demand for wealth management and comprehensive services, driven by demographic changes and wealth transfer, presents significant opportunities for the trust industry [4] - Family trusts are recognized as a core area for growth, with expectations for the market to achieve new breakthroughs in the next 3-5 years due to increasing personalized needs and the promotion of property and equity trust registration trials [4]