Research On The Legal System Of Qualified Trust Investors In China

Since 2008,China's trust industry has risen rapidly,and the scale of asset management has increased at a rate of 1 trillion yuan per year.According to statistics,as of February 12,2019,the scale of trust assets was 23.14 trillion yuan,which exceeded 22.32 trillion yuan of bank financing scale,and ranked first in the capital management industry.The growth of trust industry is obvious to all,and it has also created enormous economic benefits for the society.Under the background of the rapid development of market economy,trust industry has also exposed many problems.The importance of QFII system for trust industry has become increasingly apparent.Although there are regulations for qualified investors in China's regulatory system,there are many problems in China's regulatory system,which lags behind the latest regulatory development of developed countries in market economy.The existing investment market has encountered a cold winter of capital,the slowdown of macroeconomic growth,the plight of the real estate industry has cast a shadow on the trust industry,some trust products have gradually increased the bad rate,and some trust plans have also produced a payment crisis.Because some trust companies often neglect the screening of qualified investors and fail to fulfill their duty of loyalty and prudence when they actually sell trust products,the risk of trust plan is increased and the interests of investors are not guaranteed.The original intention of the QFI system design is to protect the trust transaction security and the vital interests of investors,especially small and medium-sized investors.The impact of QFI system on the healthy development of trust industry in China is fundamental and overall.For the legal research of China's QFII system,by introducing the theoretical basis of QFII and using the methods of documentary analysis and comparative analysis,this paper investigates the QFII system at home and abroad in the way of deductive reasoning,and finds that there are common problems between China's QFII system and the QFII system of other asset management institutions.Namely,the scope of identification is narrow and the detailed rules are lacking.At the same time,compared with developed countries,the degree of legislation is lower than that of other countries,and there are fewer adjustable factors.In view of the problems existing in China's trust QFI system,this paper studies from three aspects: legislation,justice and supervision,and puts forward corresponding countermeasures to improve the system guarantee mechanism.At the legislative level,we should accurately define qualified investors,improve the legislative level of investor screening system and clarify the civil liability of trust companies;rationally distribute the burden of proof between investors and trust companies in the judicial aspect,improve the non-litigation mechanism;introduce the "penetration principle" in supervision,improve the qualified investors screening system,and take investors' risk preferences and risks as well.The affordability design investor classification system.Suggestions are made to improve the supporting system related to qualified investors,give full play to the joint efforts of all parties and institutional advantages,protect investors' rights and interests,and better promote the sound development of trust market.