Author: Wu Linpu
On July 8, the reporter learned from industry insiders that the results of the 2021 industry preliminary assessment of trust companies have been issued to various trust companies one after another.Up to now, there are 17 trust companies with A rating.According to incomplete statistics, the number was 21 last year.
Looking at the future positioning of the trust industry based on business classification, some industry insiders pointed out that, from the definition point of view, asset management trust is from the perspective of non-standard conversion of new asset management regulations, and continues to implement the "new asset management regulations" and "net worth transformation", etc. specific measures for each requirement.Its concept mostly overlaps with the expression of traditional fund trust, and its business essence is still a private equity management tool for the purpose of pursuing property protection and appreciation.
However, it is also obviously different from private investment banking services that create financing tools for financing parties and raise funds for them, and is different from financing trusts in traditional fund trusts, which further reflects that the supervision will maintain long-term rectification and pressure reduction of traditional financing trusts. manner.
Industry insiders told the "International Finance News" reporter that in 2022, the possibility of continuous decline in the performance of the entire industry cannot be ruled out.On the one hand, the continuous increase of risk projects will have an impact on the current operating performance; in addition, the continuous pressure drop in the scale of non-standard financing business has further compressed the profit space of the trust company.
Industry Rating Related Indicators
The reporter learned that as of now, there are 17 trust companies with A rating, including: Ping An Trust, Huaneng Trust, AVIC Trust, CITIC Trust, Shanghai Trust, CCB Trust, Zijin Trust, SDIC Taikang Trust, Yingda Trust , Bank of Communications Trust, China Resources Trust, Hwabao Trust, Huaxin Trust, Chongqing Trust, Bairui Trust, Lujiazui Trust, Jiangsu Trust and other 17 institutions.
Some trust industry observers told reporters that compared with previous years, the relevant standards should not have changed much.However, there will still be a certain difference between the external caliber and the internal judging caliber of supervision, among which the calibre of regulatory judgment is not external.
It is reported that if the industry rating is not satisfied with the results of the initial assessment, the relevant companies can submit a written reconsideration to the China Trustee Association before 5 pm on July 12.
The reporter noticed that the relevant indicators of industry rating mainly include the following aspects:
The capital requirement module covers three indicators: net capital (9 points), net capital coverage ratio (13 points) and trust risk project net capital coverage ratio (6 points); the asset quality module covers inherent asset quality (10 points) and trust asset quality (16 points) two indicators; in the risk management module, the risk resolution rate of trust projects is the core indicator (10 points); the profitability module covers the return on equity (7 points), the proportion of trust business income (6 points), Indicators such as operating expense-to-income ratio (6 points) and per capita trust net income (7 points); the external evaluation mainly examines the social value contribution, with a score of 10.
How to view industry positioning
A trust practitioner who did not want to be named told reporters that in 2022, the possibility of a continuous decline in the performance of the entire industry cannot be ruled out.On the one hand, the continuous increase of risk projects will have an impact on the current operating performance; in addition, the continuous pressure drop in the scale of non-standard financing business has further compressed the profit space of the trust company.
"For trust companies, the fundraising will be directly affected, and they will also face the problem of customer loss." The person further pointed out that in the short term, new businesses such as asset securitization, charitable trusts, and family trusts will be important for most trust companies. In terms of scale, it is difficult to expand quickly, the rate of return is much lower than that of non-standard businesses, and the contribution to the company's profits is still small.
Xing Cheng, a researcher at the Center for Finance and Legal Research, Tsinghua University Law School, believes that, by definition, asset management trust is from the perspective of non-standard conversion of new asset management regulations, and continues to implement the "new asset management regulations" and "net worth transformation", etc. specific measures for each requirement.Its concept mostly overlaps with the expression of traditional fund trust, and its business essence is still a private equity management tool for the purpose of pursuing property protection and appreciation.
"But it is also obviously different from private investment banking services that create financing tools for financiers and raise funds for them, and is different from financing trusts in traditional fund trusts, which further reflects that the supervision will maintain long-term rectification and pressure reduction of traditional financing trusts. attitude." Xing Cheng pointed out that in the next step, it is almost a foregone conclusion that traditional financing trusts will be fully suspended.
Specifically, asset service trusts can be subdivided into administrative management trustee service trusts, asset securitization trustee service trusts, risk disposal trustee service trusts, and wealth management trustee service trusts in four categories and a number of sub-categories, further expanding services. Trust business boundaries.
(Editor in charge: Han Yijia)
