Research On Family Trust Of Trust Industry Based On The New Rules Of Asset Management

With the development of China’s economy and the prosperity of the market,the requirements of China’s high-end income group for asset operation and management have gradually increased.On April 27,2018,the People’s Bank of China,the China Banking and Insurance Regulatory Commission,the China Securities Regulatory Commission and the State Administration of Foreign Exchange published a document on regulating the asset management business of financial institutions(hereinafter referred to as the "New Regulation on Asset Management").On August 17,2018,the China Banking and Insurance Regulatory Commission published a document on strengthening the regulation of trusts in asset management business(hereinafter referred to as "Banking Regulatory Circular 37").Since then,as a key industry in the trust industry,family trusts have gained more room for development and have become one of the important directions for strategic transformation and innovative development of the economic industry.However,the family trust industry still faces a lot of problems in the new capital management era,and trust companies need to further consider and solve the problem of how to improve the comprehensive ability to carry out family trusts in the new capital management era.The main structure of this paper is as follows.First,the paper compares the history,professional definition,functional role,types and business models of family trusts.Second,this paper analyzes the situation of family trusts carried out by trust companies before and after the introduction of the new regulation on capital management,which shows a progressive development:before the introduction of the new regulation on capital management,it was a kind of rough development,and after the introduction of the new regulation on capital management,family trusts stepped into the stage of standardization and innovative development.Third,this paper analyzes the new challenges facing the family trust industry in the era of new capital management regulations.Finally,this paper puts forward targeted suggestions for the further development of the family trust industry from various aspects in order to improve the comprehensive service capacity of trust companies for family trusts.