Core Insights - The asset securitization market is experiencing a decline in both existing and new issuance volumes, yet the number of trust companies participating in this sector continues to grow, indicating a shift in focus towards asset securitization as a mainstream business for the trust industry [1][2] Group 1: Knowledge Property Securitization - In April 2023, a significant knowledge property securitization project led by China Foreign Trade Trust was successfully issued, with a total framework size of 1 billion yuan, marking it as the largest project in Chongqing covering nine high-tech enterprises [2][3] - From 2018 to August 2024, a total of 153 knowledge property securitization products have been issued in China, with a cumulative scale of 29.148 billion yuan, highlighting the growing interest in this area despite overall market adjustments [3][4] Group 2: Asset Types and Regulations - The implementation of the "Three Classification New Regulations" in 2023 has diversified the types of assets that can be securitized, including loans, receivables, and royalties, which can generate predictable cash flows [4][5] - The green asset securitization market has seen significant growth, with a scale reaching 90.947 billion yuan, reflecting the industry's commitment to supporting green initiatives [4] Group 3: Challenges and Opportunities - Trust companies face increasing competition in the asset securitization space, necessitating improvements in their full-chain service capabilities and professional expertise to enhance their market position [6][7] - There is a growing trend for trust companies to explore personal consumption loan asset securitization, driven by the demand from internet platforms for new issuance opportunities [5][6]

Core Viewpoint - The Bank of China Shanghai Branch is actively promoting green finance initiatives to support sustainable development and low-carbon transformation in Shanghai, showcasing its innovative financial solutions at the 2025 Shanghai International Carbon Neutral Technology, Products, and Achievements Expo [1][2]. Group 1: Green Finance Framework - The Bank of China Shanghai Branch is establishing a comprehensive green finance framework, referred to as the "four beams and eight pillars," to facilitate the green transformation of the economy and society [2]. - The bank has integrated environmental protection requirements into the entire credit management process, covering risk identification, due diligence, business approval, contract management, fund disbursement, post-loan management, and investment management [2]. Group 2: Support for Green Projects - The bank has been actively financing major projects and low-carbon transformation initiatives in Shanghai, such as the Shanghai Electric Caojing Comprehensive Energy Center Phase II loan project and the Jinshan Offshore Wind Farm Phase I project [3]. - The bank has also supported various green bond projects, including agricultural asset-backed securities and overseas green bonds that meet the EU's common classification standards, injecting financial vitality into the green industry [3]. Group 3: Commitment to Low-Carbon Operations - The Bank of China Shanghai Branch is committed to incorporating low-carbon principles into its operations, promoting energy-saving technologies, and advocating for green office practices [4]. - The bank has successfully established two "green construction benchmark outlets" in 2024, with one branch receiving a "carbon neutral certificate" from the Shanghai Environment and Energy Exchange [4]. - The bank plans to continue enhancing its product offerings and extending its green finance services to contribute to high-quality low-carbon development [4].