| Trust is an innovative financial system, the earliest start in Rome, the real origin in the United Kingdom. It developed quickly in the United States, Japan. With its flexible institutional arrangements, its tremendous advantage of crossing the capital market, monetary market, it quickly becoming the driving force for national economic growth. Now it was one of the four pillars of the Financial Industry, the other three pillars are the banking, insurance and the Securities. The development of Trust Industry in a country's development of the financial sector and the improvement of the financial structure has played an important role.Many people believe that the Trust is a system got from outside, in fact, from the Han Dynasty"powerful horse broker", the Northern and Southern Dynasties,"counters acts"until the Ming and Qing Dynasties"tooth acts", there has never been a lack of the trust in China's history of economic development. In modern times the Chinese trust industry developed because of the national capitalist's efforts. In October, 1979, China's Trust and Investment Companies set up a declaration of China's Trust Industry's restoration after reform and opening up. After China resumed the Trust Industry, it has not become the impetus of China's economic development as people's wish, but the situation continuously. In the past nearly 30 years it has experienced a period of 5 (some scholars think that is six times) to rectify. With the"People's Republic of China Trust Law", the promulgation of the re-registration of trust companies, the trust industry gradually returning to the"entrusted by the people, manage asserts for the people", the basic of the Trust Industry. Many in the industry are delighted that the Trust Industry finally ushered in the rapid development of golden opportunity. The fact is that"Jinxin Trust","Jin-xin Trust","Qingtai Trust","Islamic Trust"to suspend business, trust companies are drive into the corner by fierce competition, many Trust Enterprise's Trust business profits meager while self-employed business become the major growth point. A lot of trust and investment companies are stirred up uneasiness in the waiting for the rectify may come in the next. In our country there are very few financial industry in which so many"caring"and"concern", which also did not allow financial sector regulators feel so headaches. But China's neighbors Japan, South Korea, the trust industry have been properly developed in the respective financial system play an important role.New Institutional Economics said: reasonable system arrangement is the real driving force of development of things. This writer believes that the reason China's trust industry has been unable to get out of the"regulation with death, release with mistakes"wired circle, the main reason lies in the design of China's regulatory system that is fail to comply with China's national conditions for the Trust Industry to create a good environment to develop. That resulting in deformity of the Trust Industry. In this paper, it will study the issue and try to make some solutions, expecting to do some help in China's Trust Industry. |
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