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超10万亿元 信托资金涌向证券市场
Shang Hai Zheng Quan Bao· 2025-06-04 19:18
Core Insights - The trust industry in China is entering a new phase of rapid growth, particularly in the securities trust sector, with total trust assets expected to approach 30 trillion yuan by the end of 2024, reflecting a year-on-year growth of over 20% [1][2] - Securities market investments are the main driver of this growth, with funds directed towards the securities market (including stocks, funds, and bonds) exceeding 10 trillion yuan, accounting for nearly 50% of total trust assets [1][4] Industry Scale - As of the end of 2024, the total scale of the trust industry is projected to reach 29.56 trillion yuan, an increase of 5.64 trillion yuan from the end of 2023, representing a growth rate of 23.58% [2] - The trust industry has seen significant growth from 3.04 trillion yuan in 2010 to 26.25 trillion yuan in 2017, followed by a contraction during the regulatory transition period from 2018 to 2020, where assets fell to 20.49 trillion yuan [3] Shift in Investment Focus - There is a notable shift of trust funds towards the securities market, with the total amount invested in this sector rising from 6.6 trillion yuan at the end of 2023 to 10.27 trillion yuan by the end of 2024, marking a substantial increase of 55.61% [4] - The proportion of trust funds allocated to the securities market has reached 46.17%, making it the largest investment area for trust funds, with 1.12 trillion yuan specifically directed towards stocks and funds [4] Active Management Development - The trust industry is undergoing a transformation, with a need for enhanced active management capabilities as more wealth shifts towards the securities market [6] - The demand for equity and bond assets is increasing, driven by a decline in the investment appeal of real estate and fluctuating risk-free returns, necessitating improvements in talent, structure, and operational systems within trust companies [7]
同比劲增55.61% 超10万亿元信托资金投向证券市场
Zheng Quan Ri Bao· 2025-06-04 16:46
Core Insights - The trust industry in China has shown significant growth, with total trust assets reaching a record high of 29.56 trillion yuan by the end of 2024, marking a year-on-year increase of 23.58% [1][2] - The allocation of trust funds has shifted notably towards the securities market, with the scale of funds directed to this area reaching 10.27 trillion yuan, a 55.61% increase from the end of 2023 [1][3] - The trust industry is expected to continue evolving, focusing on enhancing service quality to the real economy and adapting to regulatory changes [4][5] Trust Asset Growth - As of the end of 2024, trust assets totaled 29.56 trillion yuan, an increase of 2.56 trillion yuan (9.48%) from mid-2024 and 5.64 trillion yuan (23.58%) from the end of 2023 [2] - The scale of fund trusts reached 22.25 trillion yuan, growing by 11.53% from mid-2024 and 28.02% from the end of 2023 [2] Fund Allocation Trends - The proportion of funds directed towards the securities market has significantly increased, with 46.17% of total fund trusts allocated to this sector by the end of 2024 [3][4] - The funds directed to the securities market amounted to 10.27 trillion yuan, reflecting a 23.14% increase from mid-2024 and a 55.61% increase from the end of 2023 [3] Impact of Policy Changes - The shift in fund allocation aligns with government policies aimed at revitalizing the capital market and boosting investor confidence [3] - The trust industry is adapting to new regulations, which have led to a transformation in how trust companies operate and allocate funds [4] Support for the Real Economy - By the end of 2024, 28.81% of fund trusts were directly invested in the real economy, with an additional 46.17% indirectly supporting it through the securities market, totaling 16.68 trillion yuan [4] - The growth of charitable trusts has also been notable, with 539 charitable trusts registered nationwide in 2024, surpassing previous years [4] Future Opportunities - Ongoing pilot programs for trust property registration are expected to create new opportunities for the trust industry, with initiatives launched in Beijing and Shanghai [5] - The trust registration company is actively working on establishing a robust registration system to support the industry's development [5]
人事变动持续 信托业发力本源业务
Shang Hai Zheng Quan Bao· 2025-05-25 18:14
Group 1 - The trust industry is undergoing a transformation, with an average management trust asset scale exceeding 470 billion yuan, reflecting a year-on-year growth of over 20% [1] - As of the end of 2024, the average management trust asset scale of 57 trust companies reached 475.53 billion yuan, an increase of 100.04 billion yuan or 26.64% compared to the end of 2023 [2] - The growth in management scale is primarily driven by the rapid development of core businesses, with companies like Ping An Trust reporting a 49.88% year-on-year increase in asset management scale [2] Group 2 - There has been a significant turnover in senior management within the trust industry, with over 10 companies experiencing changes this year, often bringing in leaders with extensive experience in banking and securities [3] - The frequent changes in leadership are seen as a strategy to better understand and adapt to industry trends and to enhance risk management and transformation efforts [3] Group 3 - The average operating income for 57 trust companies in 2024 was 1.109 billion yuan, a decline of 16.5% from 2023, while average profit fell by 29.05% to 554 million yuan [4] - The decline in profitability despite growth in scale is attributed to the ongoing exploration phase of core businesses, where many companies have not yet established significant advantages [4] - Trust companies are encouraged to enhance their active management capabilities and develop differentiated services based on their resource endowments [4][6]