Default Analysis Of Anxin Trust Series Products

By the end of 2018,the total scale of China's broad-based asset management had reached 122 trillion yuan,a decrease of 2.05% compared to 2017,which was the first negative growth in nearly a decade.In the asset management business,the market scale of bank wealth management is the largest,reaching 32.10 trillion,accounting for26.37% of the market size.The second is trust business,with a total of 22.70 trillion yuan,accounting for 18.65%.As an important asset management business,the trust business has always attracted much attention from the capital market.As of the end of the first quarter of 2019,the trust asset scale of 68 trust companies nationwide was22.54 trillion,compared with the previous year.Down 0.71%.Although the macro economy has stabilized,the downward pressure on the economy is still great,especially since the second half of 2018,the tone of the policy has changed from "strong supervision and deleveraging" to "stable growth and risk prevention".The new policy tone pays more attention to the optimization of the transmission mechanism of policies and the release of credit risks.With the reduction of asset management scale in 2019,the trust industry has ushered in its own cold winter.The "New Asset Management Regulations" have put considerable pressure on the trust industry,which requires trust companies to pay more attention to product innovation and risk prevention.In this context,the market has put forward higher requirements for trust companies in terms of product selection and operation.For trust companies,the risk control capability is the most fundamental,especially in the environment of breaking the rigid payment,improving the ability to identify risks,and doing a good job of risk control is the guarantee of the trust company's survival.The breach of the trust product of Mayson Trust Company which broke out in May 2019 caused a huge wave in the capital market.In a voice of suspicion,on June 5,2019,Anxin Trust Company responded on its official website that the product default was true.According to statistics,the default amount of the product of Anxin Trust Company was as high as 11.7 billion yuan,involving 25 projects.As the only independent listed trust company,Anxin Trust Company naturally attracted much attention.As early as 2018,the company's performance fell sharply,and theperformance of trust companies across the country also declined.The problem exposed by the breach of the product of the Trust Trust Company is actually a microcosm of the entire trust industry.It can be seen that the current situation of the trust industry is very grim.This article analyzes the default events of Anxin Trust Company,and summarizes the reasons for the company's product defaults from the perspective of products issued by the company,risk management status,disposal of defaulted products,and business development,and finds a solution to the problem.It also provides relevant guidance and recommendations to Anxin Trust Company to reduce the probability of product default and help the company achieve the healthy development of trust business.