在金融体系的浩瀚星空中，信托业以其独特的"受人之托、代人理财"属性，成为资源配置、服务实体经 济与财富管理不可或缺的一环。 东莞信托有限公司（以下称"东莞信托"），作为地方国有信托公司，深耕行业38载，深刻认识到信托文 化不仅是企业的精神旗帜，更是驱动转型、实现稳健发展的灵魂所在。在中央金融工作会议精神的指引 下，东莞信托积极响应号召，大力弘扬中国特色金融文化，将"诚信、审慎、专业、勤勉、合规、服 务"的信托文化精髓，融入公司治理的每一寸血脉，力求在服务实体经济、保障客户权益、促进行业生 态健康发展的道路上，行稳致远。 以"五大环节"创新实践引领信托文化深度落地，推动信托文化从"软理念"转化为"硬支撑"。 东莞信托围绕企业治理、价值传导、队伍建设、行为塑造、服务提升五大关键环节，推出一系列创新性 实践举措： 公益慈善信托在信托制度框架下，根据委托人的公益活动意愿，丰富业务模式，积极开展公益慈善活 动，助力社会财富第三次分配。三是常态化自查整改。在开展公司治理、经营管理、内部控制、风险管 理等审计工作中，合理评估各项内部规章制度、经营活动、业务流程及内控机制是否符合受托人定位， 查找存在的缺陷并及时完善，确保各 ...

上海国际信托凭借在公益慈善、金融惠民及行业责任领域的扎 实实践与创新突破，成功斩获"社会责任领航企业"荣誉，成为 信托行业践行社会责任的标杆代表。 作者：李默 黄金新政背后的产业链变局 被网络烂梗包围的小学生 由《经济观察报》主办的2024-2025年度"受尊敬企业"年会在北京香格里拉大饭店隆重举办。本 次年会以"智创未来，向新而行"为主题，聚焦企业高质量发展与社会责任深度融合，经过大众评 审与专家评审的多维度严苛考核， 上海信托凭借在公益慈善、金融惠民及行业责任领域的扎实实 践与创新突破，成功斩获"社会责任领航企业"荣誉，成为信托行业践行社会责任的标杆代表。 作为国内极具权威性的企业评选活动之一，本次"受尊敬企业"评选围绕优质运营、创新突破、社 会贡献、公众信赖、年度影响五大核心指标，旨在发掘对经济发展、民生改善、行业进步具有突出 贡献的企业典范。年会特设"责任之路"核心环节，集中展示企业社会责任实践成果与创新模式， 上海信托的获奖，既是对其40余年坚守"金融为民、信托向善"核心理念的高度认可，也彰显了行 业与社会对信托机构以专业能力赋能社会发展的价值肯定。 在社会责任实践中，上海信托构建了特色鲜明的责任体 ...

陈兵介绍了上海信托40余年来的发展情况和深耕慈善信托12年的历程。他指出，中山医院与上海信托虽 属不同行业，但在服务国家重大战略、服务人民美好生活方面，拥有共同的初心。他回顾了2019年以 来，与中山医院合作开展江西心血管医护人员来沪再培训项目、支持"重走院士路，善医乡村行"项目的 历史。他表示，慈善信托具有账户安全独立、权利义务清晰、信息公开透明、架构灵活多变等独特功能 优势，正日益成为中国特色公益慈善事业的重要组成部分。他展望了双方共同打造"医金融合"党建品 牌、强化"善医赋能"慈善信托协作、探索临床成果转化的合作前景，并预祝科普讲师训练营圆满举办。 李耘、陈兵代表双方党委签署党建共建协议书，相约以党建为引领、以慈善信托为纽带，充分发挥各自 专业特长和资源优势，推动党工团强化全面交流合作，共同推进联建共学、医护培训、各地义诊、健康 科普等党建及医疗公益活动落地，为助力健康中国建设、提升卫生健康公共服务水平汇聚资源、搭建平 台。 陈芸代表陈灏珠院士医学发展专项基金，授予上海信托医学科普项目捐赠鸣谢牌。 后续，上海信托将进一步践行"金融向善、信托为民"理念，不断拓宽信托应用的普惠性边界，在慈善信 托、养老信托 ...

Core Viewpoint - The article emphasizes the necessity of proactive planning for elderly care, highlighting the changing dynamics of aging populations and the importance of integrating financial and service solutions for sustainable retirement living [2][5][10]. Group 1: Generational Differences - The current elderly population has different needs compared to previous generations, focusing on quality of life, health management, and personal fulfillment rather than just basic needs [5][8]. - By 2024, the average life expectancy in China is projected to reach 79 years, reflecting significant improvements in living conditions and health status for the elderly [6][8]. Group 2: Population Structure Changes - By the end of 2024, the population aged 60 and above in China is expected to reach 310 million, accounting for 22% of the total population, with a rapid increase in the elderly demographic anticipated until 2035 [10][13]. - The aging population is compounded by declining birth rates, with only 9.02 million births in 2023, a decrease of approximately 40% from five years prior [13]. Group 3: Pain Points and Service Gaps - Current elderly care products and services exhibit significant limitations, including inflexible pension plans, low transparency in community services, and high barriers to digital health solutions [16][18]. - A survey indicates that over 80% of the pre-retirement population (ages 45-60) have not completed their retirement savings, primarily relying on bank deposits [18][19]. Group 4: Trust as a Key Solution - Trusts are emerging as a viable tool for elderly care, offering long-term financial management and service integration that traditional products cannot provide [21][22]. - Trusts can consolidate assets from various channels, ensuring funds are used according to predetermined rules, thus safeguarding against misuse and ensuring continuity in care [22][23]. Group 5: Market Response and Innovations - Ping An Trust is responding to the evolving market by integrating insurance, trust, and elderly care services into a comprehensive solution, aiming to create a seamless connection between financial resources and care services [25][27]. - The new model includes features such as asset isolation for financial security, flexible wealth transfer arrangements, direct payment for services, and a holistic service ecosystem [27][30]. Group 6: Competitive Advantages - Ping An Trust's strength lies in its ability to integrate various financial and health management resources, providing a reliable and sustainable model for elderly care [34][35]. - The recent emphasis on elderly finance by the central government marks a pivotal moment for the industry, positioning Ping An Trust as a leader in developing innovative solutions for the aging population [35].

Core Viewpoint - The trust industry is focusing on returning to its roots, serving the real economy and people's well-being, and transitioning towards high-quality development during the "14th Five-Year Plan" period [1][6]. Group 1: Strategic Positioning and Business Transformation - The core strategic positioning of the company during the "14th Five-Year Plan" is to adhere to the essence of trust, serving the real economy and people's welfare, and fully transitioning to high-quality development [1]. - The strategic focus has fundamentally shifted from financing-related businesses, such as real estate and government financing, to developing wealth management, asset management, and social governance services [1][2]. - The development goal has changed from pursuing scale expansion to seeking quality and sustainable growth [1]. Group 2: Business Data and Performance - By the end of the "14th Five-Year Plan," the company expects its business scale to reach 1.3 trillion yuan, with significant growth in areas like securities trust exceeding 700 billion yuan and active management asset management trusts reaching 200 billion yuan [2]. - The net assets of the company have increased from 6.7 billion yuan in 2015 to 25 billion yuan [2]. Group 3: Response to Regulatory Changes - The company has proactively adapted to the "three-category" new regulations by forward-looking layout and active restructuring, focusing on professional capabilities to align with regulatory guidance [2]. - The company pioneered family trusts in 2014 and launched family service trusts in 2021, achieving the highest market share in this area [2]. Group 4: Social Impact and Community Engagement - In rural revitalization, the company emphasizes "investing in people" by establishing charitable trusts and providing training for local officials, enhancing governance capabilities [3]. - In the elderly care sector, the company has developed unique trust accounts to address issues related to wealth inheritance and care for the elderly [3]. Group 5: Green Transformation and Differentiation - The company aims to build a differentiated advantage in green trust development by utilizing the broad investment characteristics of trust systems and developing various green financial tools [4][5]. - Challenges in green trust include the mismatch between long-term funding needs of green projects and the market's short-term capital preferences [5]. Group 6: Future Outlook and Strategic Focus - Looking ahead to the "15th Five-Year Plan," the company will focus on deepening efforts in technology finance, green finance, inclusive finance, elderly finance, and digital finance [5]. - The company has made substantial investments in major technology innovation funds, with a total investment scale of nearly 40 billion yuan [5]. Group 7: Industry Development and Challenges - The trust industry is expected to enter a new phase of high-quality development characterized by greater regulation, transparency, and sustainability [6]. - The industry faces higher demands for professional capabilities, risk control, product innovation, and differentiated services [6].

Core Viewpoint - The trust industry has made significant progress in aligning with the goals of serving the real economy and enhancing people's livelihoods during the "14th Five-Year Plan" period, focusing on the transformation of asset services, asset management, and charitable trusts [1] Group 1: Strategic Positioning and Transformation - During the "14th Five-Year Plan," the company's core strategic positioning is to adhere to the essence of trust, serving the real economy and people's well-being, and fully transitioning to high-quality development [2] - The strategic focus has fundamentally shifted from financing-related businesses, such as real estate and government financing, to developing wealth management, asset management, and social governance services [2] - By the end of the "14th Five-Year Plan," the company aims for a business scale of 1.3 trillion yuan, with significant growth in securities trust, asset management trusts, and wealth management accounts [2] Group 2: Response to Regulatory Changes - The company has proactively adapted to the "three-category" regulatory changes by focusing on forward-looking layouts and actively reshaping its business model [3] - The company pioneered family trusts in 2014 and launched family service trusts in 2021, achieving the highest market share in this sector [3] Group 3: Contributions to Social Welfare - In rural revitalization, the company emphasizes "investing in people" by providing training for local officials, enhancing governance capabilities in various regions [4] - In the elderly care sector, the company has developed unique trust accounts to address issues related to wealth inheritance and care for the elderly [4] Group 4: Green Transformation and Challenges - The company aims to build a differentiated advantage in green trusts by utilizing the flexibility of trust structures to support green industries through various financial instruments [5] - Challenges in green trusts include the mismatch between the long-term funding needs of green projects and the market's short-term funding preferences [6] Group 5: Future Development Directions - Looking ahead to the "15th Five-Year Plan," the company will focus on deepening its efforts in technology finance, green finance, inclusive finance, elderly finance, and digital finance [7] - The company has made substantial investments in major technology innovation funds and aims to enhance its professional research capabilities and risk control systems [8]

Core Viewpoint - Xingye Trust was awarded the "2025 Annual Outstanding Influence Trust Company" at the 13th "Capital Power" annual brand event, highlighting its achievements in transformation and industry influence [1] Group 1: Company Achievements - Xingye Trust has consistently adhered to its cultural philosophy of "Integrity and Excellence" and the principle of "Finance for the People," aligning with the trust industry's "new three classifications" transformation requirements [1] - As of October 2025, Xingye Trust's managed trust business scale exceeded 780 billion yuan, showcasing its robust capital strength and diversified business structure [1] Group 2: Industry Positioning - The company has become a backbone force in the trust industry, emphasizing its role in supporting national major strategies and accelerating transformation development [1] - Xingye Trust aims to enhance its service quality to the real economy, striving towards the goal of being a "value-oriented trust institution" that is trusted by customers and satisfies shareholders and employees [2]

Core Insights - Shanghai Trust has evolved from a historical financial site to a leading entity in the trust industry, reflecting the transformation of China's trust sector from rapid growth to a focus on sustainable development [1][2] Historical Context - The trust industry in China has a history dating back to the 1930s, initially serving as a financial witness and participant alongside banks and insurance [1] - Shanghai Trust, established after the reform and opening-up, has played a crucial role in financing local government projects and infrastructure development [2] Development Phases - The first phase of the trust industry lasted from the early 1980s to 2007, primarily serving local government financing needs, with a significant reduction in the number of institutions from over 2000 to 68 [2] - The second phase, from 2008 to 2019, marked rapid growth, with the asset management scale soaring from approximately 1 trillion yuan in 2008 to over 20 trillion yuan by 2019, driven by real estate and government financing [2][4] Risk Management - Risk management and compliance are emphasized as fundamental to the trust industry's development, with Shanghai Trust maintaining a cautious approach and independent decision-making in project evaluations [3][4] Transformation and Innovation - The introduction of new regulations has prompted the trust industry to shift from reliance on financing trusts to exploring asset service trusts and other lighter asset models [4][5] - Shanghai Trust has reduced its dependence on traditional financing models, with its asset management scale reaching 1.3 trillion yuan, focusing on wealth management and innovative trust products [4][5] Social Responsibility and Philanthropy - Shanghai Trust has engaged in various charitable initiatives, including medical training and educational support, benefiting thousands across multiple provinces [6][7] - The company has raised 200 million yuan for charitable projects, establishing over 150 initiatives that directly benefit more than 14,000 individuals [7]

Core Viewpoint - The trust industry is undergoing a transformation and is currently facing profitability challenges, with a significant decline in trust business income and net profit in the first half of 2025 compared to the same period in 2024 [1][10][11]. Financial Performance - As of the first half of 2025, 53 trust companies reported a total trust business income of 181.31 billion yuan, a year-on-year decrease of 11.38% from 204.59 billion yuan in the same period of 2024 [7][4]. - The net profit for these companies was 163.74 billion yuan, down 2.83% from 168.51 billion yuan in the previous year [7][4]. - Overall, the operating income for the industry decreased by 1.98%, and total profit fell by 3.72% year-on-year [2]. Business Structure Changes - The trust business is under pressure, with traditional high-yield trust business continuing to shrink, while proprietary business income has shown strong growth, increasing by 16.72% year-on-year [4][11]. - The decline in profit metrics is less severe than the drop in trust business income, indicating that trust companies are actively working on cost reduction and efficiency improvements [4]. Industry Challenges - The trust industry is transitioning from a traditional "interest margin-driven" profit model to a new model based on "management fees + performance sharing," which has led to a significant drop in trust business income [11][18]. - Increased compliance and operational costs due to stricter regulatory requirements are also impacting profitability [11]. - The industry is still dealing with legacy risk projects, which continue to erode profits [11]. Future Outlook - Experts believe that the trust industry, with its dual advantages in asset management and wealth management, has the potential for sustainable profitability and high-quality development as new business models are gradually adopted [1][17]. - The restructuring of profit models is seen as a critical necessity, with a focus on new business areas and enhancing active management capabilities [15][18]. - The industry is expected to stabilize and potentially recover as the proportion of new business increases and risk management continues [18].

Core Viewpoint - The trust industry is undergoing unprecedented transformation, with companies actively responding to regulatory calls for development and risk prevention, aiming for business structure optimization and asset quality improvement for sustainable growth [1] Group 1: Industry Transformation - The implementation of the "New Three Classifications" by the former CBIRC in March 2023 has clarified the business boundaries and development directions for trust companies [2] - The trust industry is shifting from traditional financing to asset services, asset management, and public welfare, aligning with national economic and social development [2] - By 2024, the total trust asset scale is expected to reach 27 trillion yuan, with positive developments in asset management trusts, asset service trusts, and public welfare trusts [2] Group 2: Company Performance - As of the reporting period, CITIC Trust has an asset service trust scale of 15,303.56 billion yuan and an asset management trust scale of 10,003.85 billion yuan, leading the industry in charitable trust registrations [3] - Huaxin Trust reported a total trust scale of 5,022.48 billion yuan, with asset management trusts at 3,703.12 billion yuan and asset service trusts at 1,226.82 billion yuan [3] - Kunlun Trust has made significant progress in charitable trusts, becoming the third company in the industry to exceed 100 charitable trust registrations [3] Group 3: Risk Management - The Central Economic Work Conference in December 2024 emphasized the importance of effectively preventing and resolving key area risks, with trust companies playing a crucial role in risk management [5] - CITIC Trust has engaged in major risk resolution projects, including the restructuring of HNA Group and other significant service trust projects [6] - Trust companies are enhancing their risk management capabilities, focusing on credit risk management and adapting strategies to mitigate risks associated with high-risk trust assets [7]