| Trust is the result of commodity economy. The fast development of modern commodity economy has promoted the prosperity of financial trust industry. At the same time, as financial trust industry can accelerate the production, preservation, distribution, concentration, and proliferation of wealth, the development of financial trust industry has given support to and speed up the growth of commodity economy.Trust means the economic action that the person who owns money or property trusts others to manage, administer, and deal with his or her own property in order to gain revenue. It is a property management system, with property its heart, confidence its basis, and trust its operating method. There are mainly two kinds of trust: trade trust and financial trust. Trade trust refers to the economic action that the bailer entrusts fiduciary institution to sell or deal with his or her junk or goods in stock. It is a kind of trust with pure retail character. Its subject matter is chiefly a kind of commodity. Financial trust, based on trust worthiness, centered on money and other assets, is the extension and development of the business of modern banks, as well as an independent branch of financial work. The keystone studied in this paper is financial trust. If there is no special explanation, trust generally refers to financial trust.Although the United States is not the country that initiated trust business, it is the one that have the best developed financial industry in the world. Through analyzing and discussing the historical stages and characters of trust industry in the United States, we can get some instructive inspiration, thus promoting the standardized development of trust industry in our country, and making it go onto the international track.The United States introduced civil trust from Great Britain, and developed step by step from general trust, civil trust, and commercial trust to modern financial trust. Trust industry in the United States mainly deals with securities fiduciary business. Trust industry and Bank industry have the same position in financial field. American laws permit trust company to operate bank business at the same time. Personal trust and corporate trust both can be implemented without coming into conflict, and most are privately operated or run by the local people. As the United States practices case law system, there is no uniform legislation on trust industry. And as it is a federation, and every state pursues its own legislation; there are various laws on trust industry. Although so, the laws and regulations are quite sound.After the 1980s, with the quickening of integration of global economy and internationalization of capital management, and with the relaxation of monetary control of various countries, the system and business of trust industry in developed countries of whom the United States is representative changed a lot, and took on some new trends. First, trust functions are diversified. Second, trust business and other financial business blend together. Third, trust investment business is internationalized. Fourth, new kinds of trust are increasingly innovated. Fifth, trust transaction is electronized. Sixth, trust on retirement pension is growing year by year.The financial trust in our country have revived, promoted by the reform and open policies. Although going through several rises and falls, it grew up through continuous adjustment, rectification, and reforms. Currently, seen from its personnel, organization structure, management mechanism, administrative system, asset quality, and development scale, it has been an indispensable part of the financial system of our country.Now, trust industry in our country has just finished whole-industry rectification and registration. Trust legislation have been improved gradually and gone onto the right track. Most trust investment companies have begun to transform from traditional business to standardized one. In this process, the management ideas, administrative functions, marketing techniques, specialize...
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