Legal Study On The Obligations Of The Trustee In China

Trust as a unique property management system has been widely adopted because of its high efficiency. Trust can trace its history to the Medieval England, however, modern trust system was generated in the20th century in the common law countries. Basing on the national characteristics, the countries of continental law system learned from these common countries, and formed a different Trust Law, while it also existed some similarities with the common law countries. The trust law of the People’s Republic of China was enacted in2001, and has been exited for more than ten years since then. With the rapid development of economy, Chinese trust industry has also received an unprecedented development, but it is regrettable is that Chinese trust law has not played its due role in front of the historic opportunity. Facing with frequent Rat events and loss of financial products in financial industry, our trust law cannot fully remedy the loss of beneficiaries because of its abstraction and general nature. Therefore, we select the trustee as a standpoint and the obligations of trustee as a research. The purpose of this article lies in comparing the fiduciary duties of trustee in the two legal systems and insight into the problems of China’s fiduciary duties, then it makes some suggestions to improve trust legislations.This article contains three parts. First, it makes a brief introduction to the history of trust system and the evolution; Second, it mainly analyzes the difference between the fiduciary duties of the Common law system and the Civil law system, so that it can provide the basis for improving our own trust legislation; Finally, this thesis analyzes the current legislative situation of Chinese Trust Law and reveals its existing problems, while it is important to provide some suggestions for improving relevant legislation.