Core Viewpoint - The revision of the "Trust Company Management Measures" marks a significant regulatory upgrade aimed at enhancing the trust industry's risk management and operational standards, effective from January 1, 2026 [1][2][3] Summary by Sections Regulatory Framework - The revised measures serve as the core framework for the trust industry in China, complementing various existing regulations to form a comprehensive "Trust Industry Law" [1][2] Key Revisions - The revised measures consist of 8 chapters and 75 articles, addressing aspects such as company governance, risk management, and operational rules, reflecting the need for updated regulations after 18 years of the original measures [3][4] Focus on Core Business - The measures emphasize the core responsibilities of trust companies, adjusting their business scope to include asset service trusts, asset management trusts, and charitable trusts, while eliminating unrelated intermediary businesses [4][5] Strengthening Governance - The revised measures require trust companies to integrate party building with corporate governance, enhance shareholder behavior management, and establish internal assessment mechanisms to maximize beneficiaries' interests [4][6] Risk Management Enhancements - Trust companies are mandated to strengthen comprehensive risk management, focusing on compliance and operational risks, and are required to manage the entire trust business process [4][7] Regulatory Requirements - The measures increase the minimum registered capital for trust companies, enhance capital and reserve management, and implement stricter behavioral and penetrative supervision [4][8] Transition for Existing Businesses - Trust companies must identify and rectify existing businesses in line with the new measures, with the regulatory authority monitoring the progress as part of the classification supervision [7][8]

Core Viewpoint - The revision of the "Trust Company Management Measures" marks the first update in 18 years, aiming to enhance the trust industry by focusing on its core functions, deepening reforms, and effectively managing risks, with the new regulations set to take effect on January 1, 2026 [1][2]. Summary by Sections Regulatory Framework - The revised measures serve as the core framework for the trust industry in China, complementing other regulations to form a comprehensive legal structure for trust operations [1][2]. Key Revisions - The updated measures consist of 8 chapters and 75 articles, addressing various aspects such as company governance, risk management, and operational rules, reflecting the latest regulatory practices and principles [3][4]. - The revision emphasizes the trust company's role as a trustee, adjusting its business scope to focus on asset service trusts, asset management trusts, and charitable trusts, while breaking the rigid repayment model [3][5]. Business Scope Adjustments - The revised measures limit the business scope of trust companies to three main areas: trust business, proprietary asset liability business, and other services, eliminating four unrelated intermediary businesses [5][6]. Risk Management and Compliance - The measures enhance internal controls and risk management, requiring trust companies to establish clear risk governance structures and comply with comprehensive risk management practices [7]. - Trust companies are mandated to conduct annual external audits covering all business areas, ensuring compliance with the new regulations [7][8]. Transition and Rectification - Trust companies are required to identify and rectify existing business practices that do not align with the new measures, with the regulatory authority monitoring the progress of these adjustments [8].