Research On Commercial Trust System Of China

Being aimed at the theory and practice of commercial trust system in China, this paperhas carried on the comprehensive combing and draw lessons from foreign legislativeexperience, puts forward the theory of the corresponding countermeasures and legislativeSuggestions for the problems existing in the current system of trust.Chinese commercial trust was implanted from foreignes, inevitably there are a lot ofshortcomings, first, the functions of the trust market positioning is not clear. Business hasboth the nature of financial institutions, and non-financial institutions. As financial institutions,both has the nature of the trust, and have the nature of banking institutions and securitiesinstitutions, this is no clear direction will bring the development and characteristic ofoperation situation of dilemma. Second, the trust law regulation object is unified. Trustindustry has experienced many times consolidation in our country, more and more carry outthe mixed management, foreign financial institutions through equity participation in domesticfinancial management system, is essentially a mixed management in trust business, foreignfinancial institutions involved in value of the trust property management business of thecompany itself, its goal is to lower the cost of license of equity investment, the trust companyown living space capacity not optimistic. Third, the trust legislation on the rights andobligations is insuffcient. Property "delegate" and "transfer" controversy between rights andobligations of the trust law is more arranged between the triangle of the trustor, trustee andbeneficiary, the arrangement of the other rights and obligations is insufficient, unfavorable forthe protection of the legitimate rights and interests related rights therein. Fourth, the trustsupervision and applying of the trust law is insufficient. The lack of effective, authorityregulations and regulatory framework, a huge number of private equity fund is still in aregulatory gap, lack of implementation of the trust law is also an important reason for thepoor trust industry development. Fifth, supporting system is not sound, the trust legalloophole. Introduced the trust law as a means of contract in our country, in order to guaranteethe independence of the property, we use the registration way, but we have not a perfect trust registration mechanism in our country.I suggest the following aspects To improve the system of commercial trust: first, give areasonable position for trust industry market functions. Trust is the essence of the unity of theproperty management agencies and financial institutions,we have to clarify the independentposition of trust in the financial system.The basic functions of Trust should be propertymanagement function, financing function,and social investment function. Second, unify andstrengthen the regulating object of the trust law. Regulating object should include all the trustrelationship, the standard adjustment object, fill the blank of the property management systemin our country. Third, clear the rights and obligations. Clear public transfers the rights andobligations of the property to a trustee this behavior, make the parties to a third partyunderstand status and the status of the entrusted property is true. Fourth, to speed up thelegislation, strengthen the supervision of the trust. To speed up the construction of propertymanagement in the field of special law, introduced the implementation of related policies andlaws. Attaches great importance to the establishment of special trust regulators, strengtheningthe heteronomy. To set up the trust industry association and strengthening self-discipline. Fifth,establish a complete set of registration system. Accelerate the construction of the trustproperty registration system, clear registration object scope, improve the procedures ofregistration, and protect the property independence.