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Xinhua Silk Road
Industry

China's trust sector continues to shrink in nine consecutive quarters

June 11, 2020


Abstract : As of the end of the first quarter of 2020, total trust assets of China's 68 trust companies amounted to 21.33 trillion yuan, a decrease of 1.28 percent compared to 21.60 trillion yuan at the end of the fourth quarter of 2019.

BEIJING, June 10 (Xinhua) -- As of the end of the first quarter of 2020, total trust assets of China's 68 trust companies amounted to 21.33 trillion yuan, a decrease of 1.28 percent compared to 21.60 trillion yuan at the end of the fourth quarter of 2019. 

The scale of China's trust sector has declined for nine consecutive quarters, data from the China Trustee Association showed on Wednesday.

Industrial and commercial enterprises continued to take the lion's share of total trust investment in the period, the balance of the trust capital invested in industrial and commercial firms stood at 5.48 trillion yuan, accounting for 30.98 percent of the total. While total amount of trust funds invested in the field of basic industries was 2.88 trillion yuan, accounting for 16.27 percent.

In the first quarter of 2020, the sector realized business revenue of 25.565 billion yuan, increasing by 10.88 percent year on year, however, its profit saw a year-on-year decline of 10.2 percent to 16.61 billion yuan.

(Edited by Bao Nuomin with Xinhua Silk Road, baonuomin@xinhua.org)

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Keyword: trust sector

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