On January 8th, there have been new developments in the trust property registration system that has received attention within the industry. Recently, the Beijing Regulatory Bureau of the State Administration of Financial Supervision and the Beijing Municipal Commission of Planning and Natural Resources jointly issued the “Notice on Doing a Good Job in Real Estate Trust Property Registration (Trial)”, which clarifies that trust companies within the jurisdiction of Beijing can establish real estate trusts for real estate within the administrative area of Beijing. The “Notice” will be implemented for one year from the date of issuance. Industry experts say that the release of the “Notice” is conducive to promoting the development of wealth management service trusts represented by family trusts and pushing the trust industry back to its roots. With the continuous improvement of the trust property registration system, potential ownership disputes in the management and transfer process in the future can be effectively resolved, and China’s trust assets worth over 20 trillion yuan are expected to be further revitalized.
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