China’s Trust Sector Assets Edge Lower to USD$3.02 Trillion in First Quarter

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Official data indicates that assets in the Chinese trust sector posted a modest decline in the first quarter of 2020 as China grappled with the spread COVID-19.

Figures from the China Trustee Association (中国信托业协会) indicate that as of the end of the first quarter China’s 68 trust companies had entrusted assets of 21.33 trillion yuan (approx. USD$3.02 trillion), for a decline of 1.28% compared to the previous quarter.

Single fund trusts totalled 7.68 trillion yuan, for a 35.99%, which contracted 1.11 percentage points compared to the previous quarter.

Integrated fund trusts were 10.02 trillion yuan, accounting for 46.99%, or an increase of 1.07 percentage points compared to the preceding quarter.

Managed asset trusts were 3.63 trillion yuan, or 17.01%.

In terms of function the financing trust balance was 6.18 trillion yuan, for a 28.97% share; the investment trust balance was 5.11 trillion yuan, for a 23.94% share, while the affairs management trust balance was 10.04 trillion yuan, for a 47.09% share.

Despite the adverse impacts of the COVID-19 pandemic the Chinese trust sector nonetheless saw a sharp rise in operating revenues, with a 10.88% YoY rise to reach 25.565 billion yuan.

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