Chinese And Foreign Trust Profit Model Studies

The trust industry of The People's Republic of China came into being after the reform and opening to the outside world.And it has experienced pain and brilliant,whose development courses ups and downs.Throughout the development process of the trust industry in recent 40 years,the six times rectification laid a deep times' brand,which are closely linked with the economic development of various periods.Among them,there are three developmental milestones: First,in 2001,is the promulgation and implementation of the “trust law of the People's Republic of China”,marks China formally set up his own law system of trust.This has established the fundamental basis for the development of trust industry in the aspects of law,and makes the trust relationships further clear,the trust acts further standardized.From then on,the trust has been clear about the function orientation,and jump out of the old development history.Second,in 2007,the CBRC(China Banking Regulatory Commission)introduced the “new two rules”,“the corporate governance guidelines of trust companies”,and “the interim measures on management of the trust company entrusted overseas wealth management business”,which is another milestone in the development of Chinese trust industry.Then,further in the function orientation and development direction,the trust companies return to their origin,and make themselves professional asset management institutions.The trust industry has been into the fast lane of development.Third,in 2010,the CBRC issued “the measures for the administration of the trust company net capital”,and released “the notice of the net capital calculation standards for trust companies” to match on it in January the following year.So,the trust industry truly achieves the risk control system,which bases on the net capital calculation,and largely avoids the redemption risk of trust products.Thus,the “one law and three rules” of the trust industry legal system had been formally formed.And trust industry began to enter a new stage of normative and rapid development.In 2013,the assets under management of the trust industry exceed10 trillion,surpassing the insurance industry,and become the second largest financial industry.In the first half of 2015,the assets under management of the trust industryexceed 15 trillion,which realize the development by leaps and bounds.And the number becomes 15.62 trillion at the end of the third quarter of 2015.Nevertheless,in 2012,after the asset management qualification issued several days later,China appeared the situation of “generic asset management”.Brokerage asset management institutions,fund subsidiaries,insurance asset management institutions came into asset management market,such as types of trust business,and fiercely competed with trust companies.This has formed a huge impact and challenge to the development of trust industry.At the same time,regulators strengthen the supervision of trust industry in recent years,and a series of regulations and policies design to guide the trust industry to adjust the business structure,and to improve the risk prevention and control ability.Because of this,in 2015,although the scale of assets under management and achievement of 68 companies in trust industry continued to grow,but the growth had been smaller than it in previous years.So,moderate steady growth will become the "new normal" of the trust industry development.It should be said that under the situation of the increasingly strict regulation and increasing competition,the business transformation of the trust industry is imminent.How to get out of the old mode,look for the new business model and profit growth point,is going to be one of the important subjects facing the trustee.In this context,this paper chose the trust industry profit model as the research object.First of all,this paper writes up the selected topic background and significance,which leads to the problem of the full text to solve.Secondly,this paper expounds two core theories as the theoretical support: trust theory and profit mode theory.Thirdly,from the analysis of the unique characteristics of the trust industry profit model in the UK,the US,and Japan,it concludes the general law of the formation and development of the overseas profit model of the trust industry.Then,this paper introduces the profit model of the trust industry in our country at present situation.And we find out our problems from the comparative analysis of Chinese and foreign profit model of the trust industry.Finally,based on the reference for the experience of profit model of the trust industry in advanced countries,this paper puts forwardsuggestions on the development and construction of trust industry profit model of China in macro,medium and micro aspects.Then,we get the research conclusion and the deficiency of the research.