Core Viewpoint - The Ningbo Financial Regulatory Bureau has responded to proposals regarding the development of special needs trusts, emphasizing the need for a multi-faceted approach to improve financial services for special needs groups [1][2][3]. Group 1: Recommendations for Special Needs Trust Development - The proposal includes six key recommendations: 1. Encourage multi-party participation from government, NGOs, trust companies, law firms, and community service organizations to build a service network for special needs trusts [1]. 2. Increase public awareness by educating government departments, especially civil affairs and judicial departments, and the public about the concept, operation, and policy advantages of special needs trusts [2]. 3. Establish a regular communication and coordination mechanism among civil affairs, finance, and judicial departments [2]. 4. Suggest the local government implement supportive policies for special needs trusts, including tax incentives or financial subsidies for families transferring real estate to trust accounts [2]. 5. Develop a comprehensive assessment mechanism to accurately identify eligible individuals and ensure the fairness and effectiveness of subsidy policies [2]. 6. Conduct professional training to enhance the capabilities of involved parties [3]. Group 2: Regulatory Response and Future Actions - The Ningbo Financial Regulatory Bureau emphasizes its commitment to improving financial services for special needs groups and will continue to promote innovation in financial products and service models within the banking and insurance sectors [3]. - The bureau will also encourage trust companies to enhance their capabilities in charity trusts, including fundraising, process monitoring, and beneficiary management, while strengthening oversight of fund usage [3]. - In terms of tax support, families transferring real estate to trust accounts are subject to six types of taxes but may qualify for tax reduction policies if they meet certain criteria [3]. Group 3: Innovations by Kunlun Trust - Kunlun Trust has made significant strides in the charity trust sector, completing the first national equity charity trust property registration in July, aimed at enhancing the accounting capabilities of social organizations [4]. - The company reported a net profit of 22.6947 million yuan for the year, reversing two years of losses, with a 219% year-on-year increase in operating income to 680 million yuan and a management asset scale exceeding 340 billion yuan, reflecting a 33% growth since the beginning of the year [4]. - Kunlun Trust's innovative practices in equity charity trusts may serve as a new model for industry transformation [4].

Group 1 - The core viewpoint of the news is the completion of China's first equity charitable trust property registration by Kunlun Trust, marking a significant development in the charitable trust sector [1][2] - The project, named "Kunlun Trust·De Run En Jiao Social Organization Accounting Capacity Education Charitable Trust," involves an initial contribution of 81,810 yuan from Shaanxi En Jiao Financial Consulting Co., Ltd. [1] - The charitable trust aims to enhance the accounting capabilities of social organizations through training programs in collaboration with the China Charity Federation and other institutions [1] Group 2 - On June 17, relevant authorities issued a notification outlining the registration process for equity charitable trusts, providing a systematic framework for property registration and addressing potential ownership disputes [2] - This notification represents the first systematic regulatory document for equity charitable trust property registration in China, following earlier explorations in real estate and equity trust registration in Beijing and Shanghai [2] - The pilot program allows for the registration of limited liability company shares, non-listed company shares, and partnership property shares as trust property, aiming to simplify the registration process and reduce costs associated with property rights confirmation and trust establishment [2]