Core Viewpoint - The recent policy breakthroughs in real estate and equity trust registration in Beijing are expected to set a benchmark for the transformation and upgrading of the national trust industry, enhancing the legal framework and operational clarity for trust companies [2][3]. Group 1: Policy Implementation - The Beijing Financial Regulatory Bureau and the Beijing Municipal Planning and Natural Resources Commission have jointly issued a notification to facilitate real estate trust property registration, marking a significant step in the industry [1]. - The first equity trust property registration was successfully completed by CITIC Trust, indicating the practical implementation of the new policy [1]. - In the first month of the new equity trust registration policy, foreign trade trusts successfully executed three equity trust projects across family inheritance, industrial upgrading, and bankruptcy restructuring [1]. Group 2: Industry Impact - The new registration policies address significant industry pain points by clarifying the distinction between trust property and the trustee's inherent assets, thereby reducing risks associated with third-party claims [3]. - The policies provide a legal guarantee for trust businesses, enabling trust companies to engage more effectively in complex projects such as corporate bankruptcy restructuring and mergers and acquisitions [3][4]. Group 3: Business Opportunities - The registration system opens new avenues for trust businesses, allowing for direct registration of real estate as trust property, which aids in asset isolation and generational transfer, particularly beneficial for high-net-worth families [4]. - The improved equity registration system allows for direct registration under trust plans, mitigating previous operational risks and enhancing the ability of trust companies to participate in various financial services [4][5]. Group 4: Challenges Ahead - Tax policies related to trust property transfers remain to be clarified, which could hinder the development of real estate trust businesses despite the new registration policies [7]. - There is a need for greater public awareness and understanding of trust mechanisms, as many potential clients lack knowledge about utilizing real estate and equity trusts for asset management [8]. - A shortage of professionals with the necessary expertise in law, finance, and taxation poses a challenge for the effective operation and management of real estate and equity trust businesses [8].

备受业内关注的信托财产登记制度再迎新突破。 日前，《中国经营报》记者从业内独家获悉，4月10日，国家金融监督管理总局北京监管局（以下简 称"北京监管局"）、北京市市场监督管理局联合下发《关于做好股权信托财产登记工作的通知（试 行）》（京金发〔2025〕40号，以下简称"《通知》"）。 据业内人士透露，目前《通知》尚处于依申请公开阶段，不过，记者从多个渠道证实，确认了该文件的 真实性。 《通知》要求，北京监管局指导北京辖内信托公司进行股权信托财产登记，市场监管部门在经营主体营 业执照上予以标注。《通知》自印发之日起试行一年。 根据《通知》，股权信托，是指委托人依法将其股权转移给信托机构或者委托信托机构出资入股，由信 托机构按照委托人的意愿以受托人名义对该股权进行管理、运用和处分的信托业务。 股权信托财产登记，是指委托人将其合法持有的股权转移给信托机构或者委托信托机构出资入股，依法 向公司登记机关申请股东变更登记或公司设立登记并对信托财产权利进行公示的行为。 《通知》表示，委托人转让的股权应符合股权转让条件，权属清晰，不存在权利限制情形。北京辖内信 托机构以在北京市行政区域范围内登记的有限责任公司的股权设立股权信 ...

信托财产登记制度的缺失，一直以来都是不动产信托面临的行业痛点之一。朱衍生同样指出，近年来，不动产信托业务不断发展，信托财产保护的重要性日 益凸显。但该项业务长期面临不动产仅能登记在信托公司名下，不能与信托公司自有财产相区分的问题，难以真正实现信托风险隔离的功能，影响信托行业 充分发挥服务民生作用。 "《通知》的出台，在全国范围内首次以专项文件的形式，明确了不动产信托财产的登记路径和办理流程，实现了可将不动产登记为信托财产的效果，解决 了潜在的权属纠纷，保护了信托当事人的合法权益，为业务落地提供了制度保障。"朱衍生如是说道。 在用益金融信托研究院研究员喻智看来，北京地区的不动产信托试点是针对行业痛点的一次积极尝试，是对信托财产登记制度进一步完善的探索，对信托公 司开展不动产类信托业务有较强的引导和促进作用。 "'双首单'不动产信托财产登记项目，这一创新实践标志着不动产信托财产登记工作再取得突破性进展。"会上，北京金融监管局党委书记、局长朱衍生表 示。 据悉，不动产信托是指委托人依法将其不动产转移给信托机构，由信托机构按照委托人的意愿以受托人名义进行管理、运用和处分的信托业务。2024年12 月，北京金融监管局、 ...