China's trust sector continues to shrink due to financial regulation
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E-mail Xinhua, September 22, 2019
China's trust sector continued to shrink in asset scale in the second quarter this year due to tighter financial regulation, industry data showed.
Total trust assets of the country's 68 market players reached 22.53 trillion yuan (about 3.2 trillion U.S. dollars) by end-June, down 7.15 percent year on year, compared with a 4.88-percent growth a year earlier, according to the China Trustee Association.
The asset scale was down 0.02 percent from the end of March, the data showed.
Business revenue in Q2 rose 8.3 percent year on year to 29.24 billion yuan, but combined profits fell 1.24 percent to around 19 billion yuan.
Industrial and commercial enterprises drew the lion's share of total trust investment in Q2, followed by real estate, basic industries and financial institutions.
The outstanding trust capital invested in industrial and commercial firms stood at 5.61 trillion yuan by end-June, accounting for 29.46 percent of the total investment.
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