Profitability is out and risk management is in. That's the message in the latest set of regulations for China's trust companies aimed at controlling a 22.6 trillion yuan ($3.1 trillion) industry that continues to be beset by scandals after a years-long overhaul.
Caixin
China intensifies efforts to curb risk in troubled trust sector
New regulatory ratings system switches focus to risk management, how businesses are run
The Zhongrong International Trust building in Beijing. In 2023, the trust failed to repay investors in some of its trust products. © Reuters
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