Trust Firms Search for New Business Out of Shadows
China’s 24 trillion yuan ($3.8 trillion) trust industry is feeling the chill as regulators clamp down on risks stemming from off-balance-sheet lending facilitated by collaborations between banks and trust firms.
Tighter regulatory controls are expected to slam the brakes on the trust industry after years of rapid growth, and the size of trust assets are expected to decline by at least 2 trillion yuan this year, an industry source told Caixin. Another source close to the regulators said authorities are hoping the industry can reduce its assets by half.
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