China trust industry growth slows in Q2
Print Edition
China’s trust industry expanded at a slower pace in the second quarter after regulators stepped up efforts to rein in risky lending, an industry report showed.
Assets under the management of China’s 67 trust firms reached a record-high 9.45 trillion yuan (US$1.55 trillion) at the end of the second quarter, the China Trustee Association said in a quarterly report yesterday.
The figure increased 8.3 percent from the end of the first quarter, moderating from a 16.9 percent gain in the first quarter, data showed.
China’s trust sector has experienced rapid expansion in the past few years with an annual growth of as much as 70 percent, thanks to higher returns by lending to property developers and local governments.
However, industry watchers said the sector is likely to lose steam after Chinese regulators took steps to clamp down on opaque lending that poses an increasing risk to the country’s financial stability.
“Trust products catering to local governments will decrease after China’s National Audit Office announced plans to launch a nationwide audit of local government debt,” China Securities Co said.
The proportion of bank-trust wealth management business declined to 22 percent at the end of the second quarter from 24 percent in the previous quarter after the China Banking Regulatory Commission in March introduced strict rules to regulate the wealth management product business.
The property sector had a total of 811.8 billion yuan in outstanding trust funds by the end of June, up 18 percent from the end of 2012 due to recovering sentiment in the housing market.
- About Us
- |
- Terms of Use
- |
-
RSS - |
- Privacy Policy
- |
- Contact Us
- |
- Shanghai Call Center: 962288
- |
- Tip-off hotline: 52920043
- 娌狪CP璇侊細娌狪CP澶05050403鍙-1
- |
- 浜掕仈缃戞柊闂讳俊鎭湇鍔¤鍙瘉锛31120180004
- |
- 缃戠粶瑙嗗惉璁稿彲璇侊細0909346
- |
- 骞挎挱鐢佃鑺傜洰鍒朵綔璁稿彲璇侊細娌瓧绗354鍙
- |
- 澧炲肩數淇′笟鍔＄粡钀ヨ鍙瘉锛氭勃B2-20120012
Copyright 漏 1999- Shanghai Daily. All rights reserved.Preferably viewed with Internet Explorer 8 or newer browsers.
