China’s Trust Industry has been supporting the real economy, according to a report published by the China Trustee Association Thursday.
The report on trust industry social responsibility in 2018 showed the trust industry directly invested 13.72 trillion yuan (about 1.92 trillion U.S. dollars) in the real economy by the end of 2018, accounting for 72.42 percent of the total fund trust, 5.33 percent higher than the previous year.
Major national strategic projects were covered in the real economy field including the Belt & Road Initiative, the Yangtze River Economic Belt & the Guangdong-Hong Kong-Macao Greater Bay Area.
By the end of 2018, the trust assets managed by the whole industry totalled 22.7 trillion yuan, down 13.52 percent year on year, according to the report.
Under regulatory requirements of “dropping scale” in the trust sector, the annual revenue in 2018 declined 4.2 percent year on year to 114.06 billion yuan, while revenue from trust business in the whole industry was 78.18 billion yuan, down 2.91 percent from 2017.
The report also introduced the trust sector’s efforts in improving people’s livelihood, sustaining green development, preventing financial risks and promoting public welfare, staff support and social responsibility management.