Research On The Business Transformation Of My Country's Trust Industry Under The Background Of New Asset Management Regulations

Since the re registration in 2007,China's trust companies have experienced a decade of rapid growth,benefiting from the appropriate external environment and institutional dividend.When the scale of trust asset management reached the peak of 26.25 trillion yuan(at the end of 2017),the trust asset management reached its peak.However,due to a series of adverse factors,such as slow economic recovery at home and abroad,frequent risk events in the financial industry,stricter regulatory policies represented by the "new regulations on asset management",and sharp increase in peer competition pressure,the traditional trust business model has been greatly tested.The scale of trust asset management and the operating performance of trust companies have both declined in 2018.In the past,the trust company's exploration of transformation was only a self-awareness of taking precautions,but now it is about the pressure of life and death.At this critical moment,this paper takes the business transformation of China's trust industry under the background of the new asset management regulations as the topic.The core of the research is how to grasp its comparative advantages,meet the market demand and regulatory requirements,build its own core competitiveness,and embark on the path of sustainable development.First of all,it explains the reasons for writing this paper,the characteristics of trust industry in China,such as short development history,fast development speed,many business changes and non-standard,etc.,which cause the current situation of few related research results,his paper can fill the vacancy.At the same time,the transition period of the new regulations on asset management in 2020 is coming to an end,and the transformation of the trust industry is imminent.Writing this paper at this key node can provide a timely reference for the transformation.Then it introduces the basic knowledge of trust and asset management industry,expounds the relevant theories of financial innovation,enterprise transformation and business efficiency,combs the relevant literature of trust industry transformation,and provides theoretical support for the full text;by analyzing the development process of trust industry in developed countries,summarizes the development law of trust industry in overseas developed countries,and finds out the transformation of trust industry Influencing factors provide reference for the transformation of China's trust industry;then it combs the development history and business status of China's trust industry,analyzes the current financial demand,competition pattern,regulatory policy and other environmental factors of China's asset management industry,and explains the main problems and challenges facing China's trust industry;finally,it empirically analyzes the efficiency of China's trustcompanies through DEA method,and analyzes the efficiency of China's trust companies.This paper compares and analyzes the changes of business efficiency of each trust company,and then analyzes the influencing factors of trust business efficiency through the double logarithm model.Combined with the theoretical and empirical results of this paper,it puts forward suggestions for the business transformation of trust industry in China.