中国信托业的金融逻辑、功能和风险防范

The Financial Logic,Function and Risk Management of Trust Industry in China

我国现有的金融体系不能有效地发挥配置资源的功能。政府规制和刚性兑付的约束,提升了信托业整体的信任度。随着我国信托业的正面形象逐步树立,居民在利率极低、资本市场低迷的背景下选择购买信托产品来理财,是我国信托业管理资产迅速增长的金融逻辑。我国信托业具有满足理财需求、提升金融功能、促进实体经济发展和居民财产性收入提高的功能,进而形成良性循环,这与"十二五"规划《建议》的基本逻辑相一致。防范信托业的风险需要政府的立法、监管和信托公司自身风险控制相结合的综合应对策略。

China＇s existing financial system can not effectively play the resource allocation function.Government regulation and rigid cashing enhance the trust degree of the trust industry as a whole.With the positive image of China＇s trust industry to gradually establish,in the context of very low interest rates and capital market downturn,the residents choose to purchase trust products to finance,which is the financial logic of the rapid growth of China＇s trust industry assets under management.China＇s trust industry has such a function： meeting the financial needs,enhancing financial functions,promoting the development of the real economy and improving residents＇ property income,thus forming a virtuous circle,which is consistent with the basic logic of the recommendations of the ＂12th Five Year Plan＂.Prevention the risk of trust industry needs comprehensive governance framework which includes the government＇s legislative,regulatory and trust company＇s risk control.