Restructuring The Supervision Of Trust Industry And Perfecting The Legal System In China

After hundreds of years of development,commercial trust has gradually become a financial tool for financial management and asset management in many countries.After the reform and opening up,the rapid development of China's trust industry is eye-catching.At the end of 2019,the balance of trust assets has reached 30 trillion yuan,which has grown into the second largest financial sub-industry after the banking industry,and is favored by financial investors.Trust,as an investment tool,not only meets the needs of market financing and realizes the expectations of residents'wealth preservation and appreciation,but also hides a series of systemic financial risks.Trust industry supervision still has a difficult legal supervision dilemma.Now the problem is how to effectively supervise the trust industry,protect the rights and interests of investors,and promote the construction of China's financial market.On April 27,2018,the People's Bank of China,the China Banking and Insurance R egulatory Commission,the China Securities Regulatory Commission and the State Admini stration of Foreign Exchange jointly issued the Guiding Opinions on Regulating the Asse t Management Business of Financial Institutions.The new regulation is a weighty docum ent issued jointly by the Banking and Insurance Regulatory Commission.It defines the r egulatory framework of the future management industry and rectifies and regulates the cu rrent chaos in the trust industry,which means that the legal system of trust supervision will be further reconstructed and improved.Based on this,in order to adapt to the new regulatory requirements and market competition in the era of capital management,maintain the stability of trust market,promote financial innovation and build inclusive financial countries,on the basis of a large number of literature review,research and study are carried out,and relevant legislative regulatory suggestions are tentatively put forward.The core content of this paper is to analyze the current supervisory mode of trust industry in terms of nominal division and mixed operation,and to study the difficulties and disadvantages of supervision in the field of financial trust in China.At the same time,after the promulgation of the new regulations on management of assets,the relevant access and prohibition conditions have been redefined,and the trust business is facing another rectification and development,which requires the trust supervisory body in China.It is necessary to study the measures to deal with the legal dilemma of trust supervision in China,and to propose the establishment of a unified financial regulatory agency in China.