| In the 13th century trust emerged firstly in British. After 700 years, it has greatinfluenced in monetary market, capital market and industrial field in most of thedeveloped countries. Nowadays, trust has become one of the most importantbranches in finance, together with bank, insurance and securities. However, in China,the situation is quietly different. People didn't recognized trust until 1919 when itwas introduced into Shanghai. Actually, since 1979, trust has gotten its authenticdevelopment just only for 25 years. China's trust industry has been in disorder for 20years due to the lack of laws and regulations. But administrative measures on thetrust and investment corporations and trust law which were separately enacted inJanuary and October 2001 indicate that the disordered development will be over.Because of this change, it becomes a very important research subject to find whatmeasures should be taken to develop our country's trust industry in the new legalenvironment. Because trust industry in china is very young, there are still many problems anddifficulties in its development after being reorganized several times. To solve theseproblems, we should not only take into account the actual situation of our country butalso draw lessons from other country's experiences. Due to different history,economic position and developmental stages of money market, trust industry indifferent country have different features in which of those USA, U.K. and Japan arerepresentative. After detailed discussion and thorough analysis with contrast analysis,historical analysis and logic analysis as well as case study analysis with theoreticalanalysis, the paper analyses the problems, circumstances and basic functions of ourcountry's trust industry. On the basic of the general analysis above, taking intoconsideration administrative measures on the trust and investment corporations andtrust law, a number of suggestions to amend current institutional frame and somepractical policy suggestions are proposed. The whole paper consists of four interrelated chapters. Chapter l introduces the topic of this thesis, interrelated documents and the way 4and methods of research. The origin of trust and summarize several elementarytheories in the field in western countries are also provided. There are 4 fundamentalcharacters of traditional trust conception: (1) Separation of ownership and beneficialrights; (2) Independence of trust property; (3) Limited liability; (4) Continuity in themanagement of trust. All of them consist of the basic contents of functional evolutionand systematic designing of trust. The basic categories of trust are then brieflyintroduced. Afterwards, the paper discusses the two underlying values of trust law:enhancing liberty and promoting efficiency. Chapter 2 reviews the institutional evolution progress of trust law in the westerncountries. It elaborates the main differences about trust law between two legalsystems, and the relation between the changes of social background and trust law.Trust first emerged in Britain in 13th century, and then it was transplanted intoAmerican where its contents had remarkable expansion. In the 20th century, Japan,Korea and other countries also transplanted this trust law system and successfullyadded domestic features into this alien institution. Their successful experience oflocalizing foreign law systems which sets good examples to our country is extremelyworth studying. Chapter 3 examines the status quo of Chinese trust law and its existing problemsat length. It first reviews the development course of the trust in china, analyses thecurrent situation of the trust and points out the existing problems .The trust in chinahas always been looking for its way out in readjustment. During the twenty yearssince it resumed, it underwent four times of readjustment in 1982, 1985, 1988, and1994. Bec...
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