China’s once high-flying trust industry has seen its fortunes reverse this year as a slowing economy and competition for investor funds curb growth.
Trust loans outstanding increased for 33 straight months through June this year, helping China’s trust sector surpass the insurance industry as the largest category of financial institution by assets, behind commercial banks.
But figures released on Friday showed trust loans falling for a fifth straight month, the longest run of declines since 2010. Overall trust assets, which include loans, publicly traded securities and private equity-style investments, rose at their slowest pace in more than two years in the third quarter, figures from the China Trustee Association show.
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