Research On Trust Industry Business Transformation Under The "Pan Asset Management Era"

Over the past decade, the trust industry has made remarkable achievements, Since 2007, the trust industry has experienced a rapid development, the growth rate of trust industry's asset size was much higher than other financial sectors. By the end of 2012, its scale has overtaken the insurance industry, becoming the second largest financial institution. At the end of 2015, the size even reached 16.3 trillion.Since 2012, Regulators for the asset management industry has changed its regulatory guidance from the controls to innovation encouragement. All kinds of management institution poured into the market, which intensified market competition, the whole industry get into the era of" Pan Asset Management".This article study how the trust industry establish a business structure with core competitiveness and profit model, which is the key to the trust industry transition.At first, this article reviews the development of trust industry and business evolution, showing the overview of the current situation of the trust business of our country. Then, use the data envelopment analysis (DEA) to calculate the efficiency of trust business under different classification. On the basis of the empirical analysis result, this article put forward three feasible direction of the trust company business transformation.This article is divided into six chapters, and the main contents are as follows:The first chapter is introduction, mainly introducing the background and significance, including the structure, the main methods, the possible innovation and shortage. The second is the trust foundation theory and literature review, which introduces the trust theory, core competence theory and the theory of diversification development. The third chapter is China's trust industry business structure analysis. The trust business of the current development situation is introduced, as well as analyzing the structure of business. The fourth chapter is empirical analysis about China's trust industry's efficiency of different classification. The fifth chapter is the main direction of the trust industry business transformation. The sixth chapter is conclusion and prospect.Possible innovation in this paper is a novel point of view and way of trust business analysis, According to different classification criteria, trust business will be divided into different categories, using the average technical efficiency for each type of trust company to represent different trust business, then we can evaluate the effectiveness in regard to different categories of trust business.In this paper, there are also shortcomings. It is difficult to get enough data from public sources. Besides, the data shows up poor comparability, poor continuity and low reliability. Furthermore, the subjective judgment of author in the selection of variables will also make some errors to the results.