Core Viewpoint - Suzhou Trust has successfully established Jiangsu Province's first real estate service trust, filling a gap in the local market and achieving dual empowerment of "elderly care" and "animal protection" [1] Group 1: Product Innovation - The new trust product integrates a three-in-one service model of "housing for the elderly + special needs + public welfare," addressing personalized elderly care needs while incorporating animal protection into the trust structure [1] - The product allows clients to gradually include their real estate, income rights, cash, and insurance policy rights into the trust system, ensuring clear property rights through a dual registration model [1] Group 2: Legal Framework and Security - Trust contracts and wills are notarized at the Suzhou Notary Office, creating a dual legal protection system of "trust + will," enhancing stability and predictability of asset arrangements [2] - Legal support is provided by Shanghai Jintiancheng Law Firm, further solidifying the independence and security of trust assets [2] Group 3: Future Development - Suzhou Trust aims to explore diversified service scenarios such as "elderly care + charity," "elderly care + real estate," and "elderly care + wills," focusing on innovative paths for real estate asset activation and cash flow transformation [2]

Core Viewpoint - The introduction of real estate trust registration policies in Beijing aims to enhance the management and transfer of real estate assets through trust mechanisms, addressing the needs of families for asset protection and intergenerational wealth transfer [2][5][6]. Group 1: Policy Development - Beijing is set to pilot a real estate trust registration policy by the end of 2024, with the first real estate service trust successfully established recently [2][5]. - The State Council has approved the exploration of a trust property registration mechanism, which includes real estate and equity, providing a significant basis for the development of trust property registration in Beijing [3]. - The Shanghai municipal government has also initiated the establishment of a trust property registration mechanism, marking a broader trend in major cities [3][4]. Group 2: Industry Impact - The lack of a trust property registration system has previously hindered the effectiveness of real estate trusts, complicating operations and increasing costs [5][7]. - The new registration policy is expected to enhance the independence of trust properties, clarifying ownership and protecting the rights of trust parties [7][8]. - The introduction of the registration system is seen as a "golden key" that will facilitate the growth of pension trusts and make them accessible to more families [7]. Group 3: Challenges and Recommendations - Despite the progress, challenges remain, particularly regarding the legal framework and tax implications associated with trust property registration [8][9]. - Recommendations include improving the legal framework for trust property registration and addressing issues related to double taxation during the establishment and transfer of trust properties [8][9]. - Experts emphasize the need for the trust industry to actively respond to these challenges and work towards legislative improvements [9].