东莞布局，再下一城！

Core Viewpoint - Dongguan is leveraging institutional innovation to address the challenges of revitalizing its substantial stock of industrial and commercial real estate assets through the pilot program for real estate trust property registration [1][2]. Group 1: Institutional Innovation - The pilot program for real estate trust property registration aims to implement high-quality development in the trust industry and optimize the business environment in Dongguan [1]. - The program clarifies the definition and applicable scope of real estate trusts, detailing the key processes involved, which previously faced obstacles due to a lack of registration norms [1][2]. Group 2: Industry Development - The pilot program is expected to enhance the independence of trust assets by requiring joint applications from the trustee and trust institution, thus clarifying property boundaries and preventing asset commingling [2]. - This institutional design addresses industry pain points, enabling the risk isolation advantages of real estate trusts to be effectively realized, supporting diverse scenarios such as family wealth inheritance and retirement security [2]. Group 3: Market Potential - As of now, eight regions, including Dongguan, have initiated the pilot program for real estate trust property registration, which is anticipated to lower the establishment threshold for real estate trusts and facilitate the appreciation of idle assets through professional management [3]. - The potential for the trust industry is significant, with the China Trust Industry Association reporting that by mid-2025, the asset service trust balance is expected to reach at least 8 trillion yuan, accounting for 24.67% of the total trust asset scale [3]. Group 4: Future Outlook - The ongoing pilot programs for real estate and equity trust property registration are expected to clear institutional barriers for asset service trusts, particularly family trusts, leading to better and faster development in wealth management services [4]. - The pilot in Dongguan is anticipated to activate the value of regional stock assets and enrich wealth management channels, providing valuable practical samples for improving the national trust property registration system [4].