BUSINESS China's trust sector expands in Q2

BUSINESS

China's trust sector expands in Q2

China Daily

12:54, September 11, 2022

A Chinese clerk counts renminbi yuan banknotes in Nantong, East China's Jiangsu province. [Photo/IC]

BEIJING - China's trust sector expanded steadily in the second quarter of this year, industry data showed.

The outstanding trust asset value came in at 21.11 trillion yuan ($3.06 trillion) at the end of June, up 471.5 billion yuan or 2.28 percent from a year earlier, data from the China Trustee Association showed. On a quarter-on-quarter basis, the asset value was up 948.3 billion yuan or 4.7 percent.

In terms of trust investment, 26.37 percent of the money, the largest share of all, went to industrial and commercial enterprises, indicating the sector's continued support for the real economy.

The investment in securities and bonds accounted for 4.52 percent and 19.7 percent, respectively, and the real estate sector received 9.53 percent of the total investment.

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