21世纪经济报道记者 叶麦穗 近日，在"第二十届21世纪金融年会"之"财富管理的低利率之问"主题论坛上，华能信托财富管理部 联席总经理储爱琴围绕低息环境下的财富管理新路径展开深度分享，结合行业实践解析保险信托、股权家族信托等核心业务的 发展现状与未来机遇，为行业发展提供了极具价值的思考。 "财富是时代发展的核心命题，之于个人是生活底气，之于家庭是安稳基石，之于社会是创新活水。"储爱琴在发言开篇即点出 财富管理的时代意义。她指出，当前低息周期下，储蓄利率走低、固收产品收益调整、资本市场波动加剧，正倒逼投资者与从 业者重新审视财富管理的底层逻辑，但挑战之中亦藏新机——股权市场潜力释放、科技创新价值爆发、绿色金融蓬勃崛起，为 财富管理开辟了全新赛道。 谈及行业"热度"，储爱琴从三大维度进行解读。在需求层面，低息环境下保险产品的相对优势凸显，叠加经济下行期公众风险 意识提升，保险信托与家族信托实现快速增长，"家族信托发展10年规模达3000亿，而服务信托发展14年以来，家族信托与保险 信托合计规模已突破万亿"。在参与主体层面，银行、保险、券商、律所等多机构纷纷入局，形成多元发展生态。在政策层面， 2023年信托"三分 ...

Core Insights - The article discusses the critical transition period for private enterprises in China, emphasizing the importance of wealth and business succession planning as the first generation of entrepreneurs approaches retirement [1][2] - Family trusts are highlighted as essential financial tools for ensuring smooth succession and long-term sustainability of family businesses, with significant growth in this sector [1][3] Group 1: Family Trust Growth and Importance - Family trusts are transitioning from a niche option to a mainstream financial solution, with a reported 435% year-on-year growth in family trust business by Western Trust in 2024 [1][2] - The family trust industry in China has seen its total scale exceed 600 billion yuan by the end of 2024, doubling in size over three years [3] Group 2: Policy Support and Market Environment - Private enterprises contribute over 50% of tax revenue, 60% of GDP, and 70% of technological innovations in China, highlighting their significance in the economy [2] - Recent government policies aim to optimize the development environment for private enterprises, focusing on property rights protection and financial support [2] Group 3: Family Trust Structure and Benefits - The family trust structure allows for the separation of ownership, management, and income rights, providing a robust framework for business succession [4][5] - Family trusts can effectively address common succession challenges, such as asset fragmentation and disputes arising from traditional inheritance methods [4][5] Group 4: Customization and Professional Services - Western Trust emphasizes the need for highly customized family trust solutions to meet the unique needs of different families, including support for entrepreneurial ventures and cross-border succession [6][8] - The company offers a comprehensive service model that includes ongoing support and adjustments to trust structures as family and business needs evolve [8][9] Group 5: Recognition and Market Position - Western Trust has received multiple awards for its family trust products, reflecting its professional capabilities and commitment to quality service [7][9] - The company aims to contribute to the high-quality development of the private economy by providing innovative solutions and long-term support for wealth succession [9]

Core Viewpoint - The establishment of family trusts by private entrepreneurs is becoming a crucial method for wealth transfer and management of equity stakes in their companies, as evidenced by recent actions taken by 361 Degrees International Limited and other well-known brands [1][2]. Group 1: Importance of Family Trusts - Family trusts provide various solutions for entrepreneurs, including legal asset protection, orderly succession, centralized equity management, risk isolation, and the transmission of entrepreneurial spirit [2]. - The application of family trusts for equity holding and succession is more common abroad, with notable examples including JD.com and Xiaomi, where founders utilize offshore trust structures to manage their stakes [2]. Group 2: Current State of Domestic Family Trusts - The domestic family trust market is underdeveloped, with a total scale of less than 10 billion yuan, representing only 0.34% of the family trust market, which has an asset management scale of 435.72 billion yuan [3]. - Concerns regarding the safety of equity in family trusts arise from the lack of a property registration system for trust assets in China, leading to uncertainty among entrepreneurs [3]. Group 3: Recent Developments - Recent regulatory changes, including the issuance of a notification by the National Financial Regulatory Administration and the Beijing Market Supervision Administration, aim to enhance the public effectiveness of equity as trust property, promoting the application of equity trusts in private enterprise succession [4][5]. - The successful implementation of equity trust property registration marks a significant milestone for the trust industry, providing clearer legal foundations and operational norms for trust companies [6]. Group 4: Future Prospects - The future development of family equity trusts in China requires clarification of the legal nature of trust property and the transfer of ownership, as well as the establishment of effective registration methods [6].