南方财经全媒体记者 林汉垚 实习生 涂盛青 11月22日，为凝聚行业智慧、探寻发展新路径，由南方财经全媒体集团指导、21世纪经济报道主办的"第二十届21世纪金融年 会"在北京盛大召开。 在年会"财富管理的低利率之问"主题论坛上，昆仑信托董事长王峥嵘以"锚定产融本源 多维配置破局"为主题，分享昆仑信托在 低利率时代的实践与思考。王峥嵘从昆仑信托自身过去数年的转型实践出发，系统阐述了信托行业在低利率环境中的生存逻 辑、发展方向与创新路径，体现了信托机构在"三分类"监管框架下的战略调整和业务重塑。 王峥嵘表示，无论宏观经济处于低利率还是高利率环境，在信托业务三分类的监管框架指引下，信托业正回归本源，未来发展 前景十分光明。 他解释到，从国家层面看，信托具备独特的制度优势，能够在社会治理中扮演重要角色；对企业而言，信托可以通过债权、股 权等多种方式为企业提供有效的融资支持；对个人与家庭来说，信托则是实现财富保值增值和有序传承的重要工具。 主动转型应对挑战 王峥嵘坦言，信托行业近年来经历了"冰火两重天"，尤其过去两年，昆仑信托与行业一起，进行了艰难的转型。 昆仑信托自2021年起就主动调整路径。据王峥嵘介绍，昆仑信托自 ...

在服务民生实践中，山东国信积极探索"信托+"服务模式，推动信托制度惠及更广泛群体。聚焦社区治理中的资金管理难点，公司落地物业预付资金服务信 托，为物业预付资金构建安全、透明、高效的管理机制。针对特殊需要群体在财产管理、医疗照护及生活支持等方面的长期需求，公司落地特殊需要信托， 为完善社会福利体系、缓解家庭照护压力提供了市场化解决方案。响应人口老龄化国家战略，公司受托设立公益养老服务信托，助力构建多层次养老保障体 系。 在公益慈善领域，山东国信将社会责任融入转型发展，积极探索"金融+慈善"新路径，深耕慈善信托，引导财富向善。截至2025年6月，公司累计成立慈善信 托69个、累计交付规模近1.9亿元，聚焦乡村振兴、教育助学、医疗救助等重点领域。同时，公司不断拓宽慈善信托的参与主体和业务内涵，率先落地多项 领先的业务模式，带动更多社会资源参与公益慈善事业，推进共同富裕。 展望未来，山东国信将继续坚持金融工作的政治性、人民性，践行国企使命担当，履行社会责任，为服务实体经济和人民美好生活贡献专业力量。(CIS) 11月20日，在证券时报主办的"2025中国金融机构年会暨2025中国信托业发展高峰论坛"上，山东省国际信托 ...

长江商报消息 ●长江商报公益记者 杨蝶 为强化业务的专业性与可持续性，上海信托在2017年于行业内率先成立专门的慈善信托部，构建"上信 上善"架构，整合政府奖励基金、社会资金及产品超额收益，形成公司、客户、员工共同参与的公益生 态；同时联动行业协会、慈善组织、高校、医院等多方主体搭建合作网络，并实现所有项目全程透明可 追溯，确保捐赠者清晰掌握资金流向与帮扶成效，形成"人才培养为核心、模式创新为支撑、生态共建 为依托、制度保障为底线"的业务特色。 业内人士分析，政策制度持续完善、信托公司战略转型等多方面因素，共同驱动了慈善信托的快速发 展。未来，慈善信托发展前景可期，不过机遇与挑战并存，需要多方协同发力。 责编：ZB 长江商报公益记者注意到，近年来，慈善信托迎来制度性利好与市场化落地的关键窗口。监管层对慈善 信托的费用与年度支出作出明确规则，信托业将公益慈善信托纳入新业务体系，地方试点在股权、不动 产登记等方面展开探索，慈善信托定位从"模糊概念"转向"成熟工具"，其兼具公益属性和金融功能的优 势被社会广泛认可，中国慈善信托行业进入快速发展阶段。 慈善中国官网数据显示，截至2025年11月20日，全国已备案的慈善 ...

Core Insights - The recent registration of two new charitable trusts marks a significant step towards reaching a total charitable trust asset scale of 100 billion yuan in China, indicating a growing momentum in the sector [1][2] Group 1: Development Drivers - The rapid growth of charitable trusts is driven by multiple factors, including the continuous improvement of policies and regulations, strategic transformations of trust companies, and increasing social demand for charitable initiatives [2][4] - As of November 17, 2023, there are 2,625 registered charitable trusts in China, with a total asset scale of approximately 9.922 billion yuan, nearing the 10 billion yuan mark [2] - The introduction of the "Trust Three Classification New Regulations" and the revised "Trust Company Management Measures" have established a solid institutional foundation for the development of charitable trusts [2][3] Group 2: Advantages of Charitable Trusts - Charitable trusts offer several advantages, including the legal structure that ensures asset independence, flexibility and customization for precise resource allocation, and sustainable benefits through a model that combines principal and investment returns [3][4] Group 3: Opportunities and Challenges - The future of charitable trusts is promising, with significant opportunities arising from policy support and the evolving landscape of the trust industry, which encourages innovation and the integration of charitable initiatives into core business strategies [4][5] - Challenges remain, such as difficulties in tax incentives, a shortage of professional talent, and the need for greater public awareness of charitable trusts [5] - To transition from a scale of 100 billion yuan to 1 trillion yuan, a collaborative effort is required across policy, industry, and market levels to create a comprehensive ecosystem for charitable trusts [5]

Core Viewpoint - China's charitable trust sector has transitioned from a policy exploration phase to a new stage of scaled development, with a total of 2,582 registered charitable trusts and a scale of 9.877 billion yuan as of mid-October 2025, nearing the 10 billion yuan mark [2] Policy Framework - The institutional framework for charitable trusts in China has evolved through a progressive structure of "legal foundation - policy clarification - detailed regulations," starting with the 2001 Trust Law and culminating in the 2023 classification of trust company businesses [3] - Continuous policy support is expected to guide the development direction and institutional boundaries for charitable trusts, with specific mandates for involvement in key areas such as rural revitalization and education [3] Industry Growth - The charitable trust sector is experiencing steady growth, with the number of registered trusts increasing by 306 and the scale rising by 1.314 billion yuan from the end of 2024 to September 2025, indicating a likely breach of the 10 billion yuan threshold by year-end [5] - Shanghai Trust has successfully raised 200 million yuan for over 150 charitable projects, benefiting more than 14,000 individuals across 24 provincial-level regions, focusing on education, healthcare, and rural revitalization [6] Operational Models - Shanghai Trust has established a dedicated charitable trust department to enhance business professionalism and sustainability, creating a collaborative network with various stakeholders to ensure transparency and traceability of projects [7] Challenges and Solutions - The charitable trust sector faces challenges related to public perception, professional capacity, and ecological collaboration, with misconceptions about its purpose and insufficient strategic alignment with national goals [8] - Recommendations for high-quality development include enhancing public education on charitable trusts, improving industry professional capabilities, and fostering multi-party collaboration to create a sustainable development framework [9][10]

Core Viewpoint - The news highlights the role of charitable trusts in promoting rural revitalization in China, emphasizing their unique advantages in mobilizing social capital and addressing rural needs through targeted financial support [1][3]. Group 1: Charitable Trusts and Rural Revitalization - Charitable trusts are bridging the gap between social goodwill and rural needs, facilitating a shift from short-term aid to long-term empowerment in rural areas [1][3]. - The establishment of charitable trusts has led to significant financial contributions, with a trust in Tianjin raising 5.7093 million yuan to support local infrastructure and industries [2][4]. - Charitable trusts are involved in various projects, including infrastructure development, ecological improvement, and public service enhancement, thereby improving living conditions in rural areas [3][4]. Group 2: Financial Contributions and Project Outcomes - In 2024, the trust industry supported 289 rural revitalization projects with a total investment of 4.304 billion yuan, focusing on industry, culture, and ecology [4]. - Specific projects include the establishment of trusts aimed at ecological restoration and agricultural development, which have collectively raised 7.82 million yuan [3][4]. Group 3: Education and Talent Development - Charitable trusts are also focusing on education and talent development, providing scholarships and training for rural students and local officials, thereby enhancing human capital in rural areas [5][6]. - Shanghai Trust's "Caring for the Yangtze River Delta" project has allocated approximately 10 million yuan to support impoverished students in rural areas over five years [5][6]. Group 4: Operational Transparency and Management - The operational model of charitable trusts emphasizes transparency, independent asset management, and flexible governance, which are critical for maintaining public trust in charitable activities [6][7]. - Xiamen International Trust has implemented a collaborative model with local charities to ensure effective management and monitoring of trust funds, enhancing accountability [7].

Core Viewpoint - The recent draft of the "Asset Management Trust Management Measures" by the Financial Regulatory Bureau signifies a shift towards a more refined regulatory framework for the trust industry, addressing the need for updated regulations after 18 years of existing rules [1][2] Regulatory Framework - The draft enhances the regulatory chain for the trust industry, following previous regulations that clarified business boundaries and strengthened full-process supervision [1][2] - It emphasizes the private equity nature of asset management trusts, limiting investor numbers to a maximum of 200 and imposing stricter qualifications for high-risk products [2] Business Challenges - The draft imposes strict limitations on non-standard asset investments, which may lead to a decrease in financing trusts and pressure on companies reliant on non-standard business [2][3] - Trust companies are required to enhance their operational capabilities, including building comprehensive research systems and improving IT infrastructure for daily valuation and net asset value disclosures [3] Growth Opportunities - The draft opens avenues for high-quality development in the trust industry, with a focus on standardized trust products becoming a core area of competition [3][4] - Trust companies can leverage their institutional flexibility to create differentiated products, such as family trusts and asset allocation services, to compete with public funds and securities asset management products [4] Long-term Development - The regulatory body will monitor the progress of asset management trust business rectifications, urging companies to reduce existing business steadily [4] - The industry is expected to achieve sustainable development only by genuinely transforming into professional investment management institutions [4]

Core Viewpoint - CITIC Trust has released its 2024 ESG report, showcasing its commitment to environmental, social, and governance practices, positioning itself as a leader in the trust industry amid the sustainable development trend [1][4][11] Group 1: ESG Implementation and Strategy - The trust industry is undergoing a transformation, with ESG becoming a key indicator of core competitiveness for trust companies [4] - CITIC Trust emphasizes that practicing ESG is essential for aligning with national strategies, regulatory guidance, and market expectations, while also being a pathway for sustainable development [5] - The company has established a three-tier ESG governance structure, which has been recognized by industry associations and regulatory bodies [11] Group 2: Financial Services and Economic Support - CITIC Trust focuses on high-quality financial services, targeting advanced manufacturing, infrastructure, and regional coordinated development [6] - By the end of 2024, CITIC Trust's total trust business serving the real economy reached 24,091 billion, an increase of 5,736 billion from the beginning of the year, with a 92% share of real economy trust business [6][8] - The company aims to enhance service quality for specific groups, including small and micro enterprises, rural revitalization, and public welfare [7][8] Group 3: Green Finance Initiatives - CITIC Trust is actively developing green trust services, utilizing various financial tools to support the green economy [9][10] - In 2024, the company launched 26 green finance projects with a total scale of 19.146 billion, including green bond investments totaling 14.631 billion [10] - The company has innovated a "family trust + green loan" model to integrate wealth management with green industry investment [9] Group 4: Digital Transformation and Management - Digital transformation is enhancing ESG governance, with CITIC Trust implementing a digital management platform for efficient operation of its financial services [12] - The company has developed a comprehensive ESG management system, integrating ESG principles into its operational and decision-making processes [11][12]

Core Insights - Charitable trusts are emerging as an innovative philanthropic method, showcasing advantages over traditional donations such as operational transparency, asset independence, and flexible management [1][4] - As of October 15, there are 2,582 registered charitable trusts in China, with a total asset scale of 9.876 billion [1] - The China Trust Industry Association projects that by the end of 2024, the cumulative number of registered charitable trusts will reach 2,244, with a total asset scale of 8.507 billion [1] Summary by Sections Charitable Trusts Growth - In 2024, 539 new charitable trusts were registered, an increase of 85 from the previous year, representing a year-on-year growth of 18.72% [1] - The new asset scale for 2024 is projected to be 1.661 billion, an increase of 384 million from the previous year, reflecting a year-on-year growth of 30.07% [1] Focus Areas of Charitable Trusts - The trust industry is expanding the application of charitable trusts, focusing on grassroots community development, traditional cultural heritage, rare diseases, and elderly healthcare [1] - For instance, the "Wenrun Dongcheng" charitable trust project by Yingda Trust aims to promote the transmission of traditional Chinese culture and support cultural heritage protection in Beijing [1] New Initiatives and Regulations - The establishment of the "China Trust - Greater Bay Area Youth Red Gene Charitable Trust" by China Resources Trust focuses on red culture protection and youth patriotism education [2] - The trust industry is diversifying asset types, including non-cash assets like artworks and equity, to enhance participation in public welfare [3] - New regulations for charitable trusts, including the registration of equity-based charitable trusts, are being implemented to facilitate social capital involvement in philanthropy [3] Transparency and Accountability - The revised Charity Law of the People's Republic of China emphasizes the importance of transparency and accountability in charitable trusts, mandating timely reporting and information disclosure [4] - The new Charity Organization Information Disclosure Measures, effective January 1, 2026, require charitable organizations to publicly disclose trust details within 30 days of establishment [5] - Industry experts stress that transparency in fund management is crucial for building trust and ensuring that donations are effectively utilized [6]

Core Viewpoint - The trust industry in China is evolving to become a significant financial force in supporting the real economy and enhancing people's quality of life, with a focus on high-quality development and social responsibility in the coming years [1] Green Trust Development - In 2024, the trust industry added 390 new green trust projects, marking a 21.50% year-on-year increase, with a total new scale of 177.944 billion yuan and a total existing scale of 325.388 billion yuan [2] - The green trust product system has diversified, moving beyond a single model to include green credit, green asset securitization, green equity, green bonds, and green funds [2] - By the end of 2024, the existing scale of green trust loans was 92.219 billion yuan, while green asset securitization had an existing scale of 64.479 billion yuan [2] - Trust companies are integrating green trust with regional development needs, exemplified by Xiamen International Trust's solar streetlight project and Shandong Guoxin's funding for clean energy heating [2] Institutional Development - The establishment of a Green Trust Professional Committee by the China Trust Industry Association in 2024 aims to enhance industry standards and service capabilities [3] Charitable Trust Growth - The trust industry is focusing on high-quality development by addressing social welfare and promoting charitable initiatives, with funds directed towards inclusive finance reaching 1.6 trillion yuan in 2024 [4] - In the elder care sector, 1,148 elder care trust projects were established, with an investment of 14.493 billion yuan, while 289 projects related to rural revitalization received 4.304 billion yuan [4] - The charitable trust sector saw a total of 2,244 registrations by the end of 2024, with a cumulative scale of 8.507 billion yuan, and 539 new registrations in 2024 alone, reflecting a strong growth trend [5] Talent and Mechanism Development - The trust industry is committed to high-quality development, with over 170,000 employees, more than 60% of whom are under 40 years old, and an increasing proportion of employees with master's degrees or higher [7] - The industry conducted over 2,600 training sessions in 2024, with nearly 300,000 participants, enhancing professional capabilities [7] - Regulatory bodies have introduced policies to support the industry's transformation, while the China Trust Industry Association has improved self-regulatory rules [7][8] Risk Management and Cultural Development - The industry is enhancing risk management and compliance, with a focus on cultivating a trust culture that emphasizes integrity and professionalism [8] - The trust industry is expected to continue growing in scale, improving risk resolution capabilities, and optimizing customer service experiences while contributing to national strategies and economic development [8]