Caixin
Jun 24, 2022 04:08 AM
FINANCE

Trust Industry Profits Fall 31% Amid Market Volatility

China’s trust industry managed more than 20 trillion yuan of assets as of March 30, 2022.
China’s trust industry managed more than 20 trillion yuan of assets as of March 30, 2022.

China’s trust industry suffered a 31% decline in profit in the first quarter, though its capital strength and asset structure improved, an industry association said.

In the first three months of 2022, the trust industry reported total profit of 12.4 billion yuan ($1.85 billion), down 31.42% from the same period a year ago, and operating revenue declined 28.25% year-on-year to 20.5 billion yuan, the China Trustee Association (CTA) said.

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