Core Viewpoint - Xiamen has achieved two significant breakthroughs in real estate trust registration, marking the completion of China's first trust property transfer registration during the trust's duration and the establishment of the first dual-trustee family service trust in the country [1][2]. Group 1: Xiamen's Unique Practices - The real estate trust registration completed by Xiamen Trust is distinct from previous cases in Beijing, Shanghai, and Guangzhou, as it allows for the addition of real estate as trust property during the trust's duration [2]. - The "Xiamen Trust - Tonghui No. 1 Special Trust" was established with the intention of including real estate as trust property, which was previously hindered by a lack of policy support [2][3]. Group 2: Policy Innovations - The "Pilot Scheme" has broadened the definition of real estate trust property registration, allowing for innovative practices such as adding real estate to the trust during its duration and changing trustees and beneficiaries [3]. - This innovation enables trustors to add their properties to the trust, providing financial security for their children and sustainable rental income for their own retirement needs [3]. Group 3: Broader Implications for Trust System - Xiamen's approach represents a shift towards making trust services accessible to a wider audience, moving beyond high-net-worth individuals to ordinary families [4][6]. - The successful implementation of real estate trust registration in Xiamen is expected to inspire other cities to explore differentiated practices, contributing to the overall improvement of the national trust property registration system [4][5].

Core Viewpoint - The trust industry in China is undergoing a transformation, emphasizing the importance of consumer rights protection as a central issue in its development [1][2]. Group 1: Consumer Rights Protection Initiatives - The China Trust Industry Association is enhancing consumer protection practices through four main strategies: improving institutional mechanisms, increasing trust education, enhancing service capabilities, and refining dispute resolution mechanisms [1][2]. - Trust companies are encouraged to engage with communities and educational institutions to foster a better understanding of trust products among consumers [1][2]. Group 2: Shanghai Trust Company Performance - Shanghai Trust currently manages over 1.2 trillion yuan, reflecting a growth of approximately 25% from 956.8 billion yuan at the end of 2024 [2]. - In 2024, Shanghai Trust reported revenues of 3.14 billion yuan and a net profit of 957 million yuan [2]. - Since 2015, Shanghai Trust has cumulatively repaid clients 4.3 trillion yuan in principal and over 290 billion yuan in returns [2][3]. Group 3: Risk Management and Business Strategy - Shanghai Trust adopts a unique business model focused on risk control, prioritizing investor protection through careful project evaluation and decision-making [3]. - The company emphasizes a strategy of "production determined by sales," which differentiates it from other financial institutions like brokerages and funds [3]. - Shanghai Trust has launched several innovative trust products aimed at addressing public needs, including family service trusts and real estate service trusts [3].