Core Viewpoint - The issuance of the "Notice on the Registration of Equity Trust Property" marks a significant breakthrough in addressing the long-standing issue of equity trust registration for non-listed companies in China, enhancing the operational clarity and legal framework for trust companies [1][2]. Group 1: Regulatory Changes - The new regulation strengthens the independence of trust property and provides clear operational guidelines for trust companies, facilitating the development of equity trust business [1][2]. - The "Notice" clarifies the registration and financial supervision details for equity trusts, distinguishing between the trustee's inherent property and trust property, thus reducing reputational risks for trust companies [2][3]. Group 2: Practical Applications - Within the first month of the new regulation, China Foreign Trade Trust successfully registered a customized equity trust for a biopharmaceutical entrepreneur, addressing common challenges in family business succession [1][2]. - China Foreign Trade Trust and Citic Trust completed two significant equity trust projects, including a service trust for strategic emerging industries and a risk disposal service trust for a company undergoing bankruptcy restructuring, showcasing innovative applications of trust services [3][4]. Group 3: Industry Impact - The new regulation and its initial implementations are seen as seeds for transforming the industry ecosystem, promoting high-quality development in the Chinese trust sector [4].

Core Viewpoint - The successful registration of the first equity trust property marks a significant milestone in the implementation of equity trust property registration in Beijing, providing a new innovative path for the transformation and development of the trust industry [3][4][6]. Group 1: Background and Implementation - The "CITIC Trust - Oriental Garden Bankruptcy Reorganization Special Service Trust" completed its equity trust property registration in Chaoyang District, Beijing, just two days after the issuance of the pilot notification [3][4]. - The pilot notification aims to guide trust companies in Beijing to conduct equity trust property registration, marking a key step in the reform of the trust property registration system [4][6]. - The registration process involves pre-registration of trust products, signing trust documents, and applying for shareholder change registration with the market supervision bureau [5][6]. Group 2: Industry Impact and Future Directions - The pilot project aims to assist Oriental Garden in completing its bankruptcy reorganization, aligning with regulatory advocacy for innovation and transformation in the trust industry [6][7]. - The successful registration addresses industry pain points and strengthens the independence of trust properties, providing clear operational guidelines for trust companies [7][8]. - Future improvements are suggested, including expanding the scope of registration to include joint-stock companies and partnerships, simplifying the registration process, and enhancing legal frameworks to support equity trust property registration [8][9].