Xinhua Silk Road - Belt and Road Portal, China's silk road economic belt and 21st Century Maritime Silk Road Website Xinhua Silk Road - Belt and Road Portal, China's silk road economic belt and 21st Century Maritime Silk Road Website
Subscribe CustomBlackClose

Belt & Road Weekly Subscription Form

download_pop

Research ReportCustomBlackClose

The full edition of the report is available at Xinhua Silk Road Database. You can click the “Table of Content” to have a general understanding of it.

Click on the button below to create your account and get immediate access to thousands of articles.

Start a Free Trial

Agricultural Development Bank of China
Industry

China's trust industry reports higher revenue growth in Q1

June 15, 2020


Abstract : The revenue of China's trust industry maintained rapid growth while its scale continued to fall during the first quarter of the year, according to a report from the China Trustee Association.

BEIJING, June 13 (Xinhua) -- The revenue of China's trust industry maintained rapid growth while its scale continued to fall during the first quarter of the year, according to a report from the China Trustee Association.

The country's 68 trust companies had 21.33 trillion yuan (about 3 trillion U.S. dollars) worth of entrusted assets at the end of March, compared with 21.6 trillion yuan at the end of last year.

Despite downward economic pressures caused by the novel coronavirus epidemic, the industry reported faster revenue growth during the first quarter, the report showed.

The industry reaped 25.57 billion yuan in revenue, up 10.88 percent year on year. The growth rate was 7.95 percentage points higher than that at the end of last year.

Echoing the country's principle of "houses are for living in, not speculation," the industry channeled less capital to the property sector and more to the real economy and small businesses.

The real estate sector had a total of 2.58 trillion yuan of investment from the industry at the end of March, down 125 billion yuan from the end of last year. In contrast, industrial and commercial businesses continued to receive the lion's share of investment, according to the report. Enditem

Scan the QR code and push it to your mobile phone

Keyword: trust industry

Write to Us belt & road login close

Do you want to be a contributor to Xinhua Silk Road and tell us your Belt & Road story? Send your articles to [email protected] and share your stories with more people.

Click on the button below to create your account and get im http://img.silkroad.news.cn/templates/silkroad/en2017te access to thousands of articles.

Start a Free Trial

Ask Us A Question belt & road login close

If you have any questions, please enter them in the box below.

Reload

Write to Us belt & road login close

Do you want to be a contributor to Xinhua Silk Road and tell us your Belt & Road story? Send your articles to silkroadweekly@xinhua.org and share your stories with more people.

Click on the button below to create your account and get im http://img.silkroad.news.cn/templates/silkroad/en2017te access to thousands of articles.

Start a Free Trial