Group 1 - The trust fund market is experiencing a structural shift, with an increase in the number of trust products established, particularly in the "standard product" category, which saw a 17.55% month-on-month growth in July [2][3] - The total number of asset management trusts established in July reached 2,295, marking a 10.5% increase from the previous month, although the total disclosed scale decreased by 6.88% to 77.682 billion [2] - The bond and equity investment trust products also showed significant growth, with bond investment trusts increasing by 15.59% to 1,142 products and equity investment trusts rising by 19.57% to 55 products [2] Group 2 - The trend of shifting focus from traditional fixed income to "fixed income plus" products is becoming mainstream among trust institutions, driven by the decline in risk-free interest rates [3] - Trust companies are diversifying their portfolios by investing in REITs and convertible bonds, indicating a strategic shift to adapt to current market conditions [3] - The overall market risk appetite is expected to increase, with sectors like technology and innovative pharmaceuticals showing global competitiveness, making "fixed income plus" products attractive for investors seeking stable returns [3] Group 3 - There is a long-term trend of increasing trust fund participation in the capital market, supported by regulatory guidance encouraging banks and trust funds to engage more actively [4][5] - Trust companies are optimistic about the future of the Chinese capital market, planning to leverage their long-term investment advantages to increase their capital market allocations [4] - The shift of trust funds towards the securities market is anticipated to accelerate, driven by regulatory policies and the evident profitability of capital markets [5]