Trust industry development history

First, the history of the development of the trust

Trust is a special property management system and legal behavior, but also a financial system, with banks, insurance, securities together constitute a modern financial system.

The trust system originated in the United Kingdom, is in the United Kingdom "Yous system" on the basis of the development of a few centuries ago.

However, the modern trust system was introduced to the United States at the beginning of the 19th century, after the introduction of the United States, the trust has been rapid development and growth. The United States is currently the most sound trust system, the trust product is the most abundant, the development of the largest total number of countries.

China's trust system was first born in the early 20th century, but at that time China was in a semi-colonial and semi-feudal situation, the economic foundation for the survival and development of the trust industry was extremely weak, and it was difficult for the trust industry to do anything.

The real development of China's trust industry began in the reform and opening up, is the product of the reform and opening up. 1978, the early stage of the reform, hundreds of waste to be new, many regions and departments of the construction of the funds generated a great demand for in order to adapt to the whole society of the financing methods and the diversification of demand for funds needs in October 1979, China's first trust institutions --China International Trust and Investment Corporation (CITIC) was born with the approval of the State Council. Its birth marked a new era for China's modern trust system, and greatly promoted the development of China's trust industry.

What is the history of the development of China's trust industry

The trust is a legal system based on the transfer of property and the disposal of property, which is based on the premise of economic freedom.

Therefore, the re-introduction of China's trust system is closely related to the reform and opening up, which also determines the evolution of the trust industry is characterized by China's transition economy. China's trust industry from 1979 to the present has gone through three stages of development: planned economy, mixed economy of plan and market, and market economy.

Therefore, the development of China's trust industry can basically be understood as three major phases, namely: the recovery and expansion phase (1979-1992), the rectification phase (1993-2001) and the standardization phase (2002 to the present). Table of Contents I. Recovery and Expansion Stage of China's Trust Industry (1979-1992) 1.1 Brief Introduction of China's Trust Industry before Reform and Opening Up 1.2 Recovery and Expansion Stage of China's Trust Industry II. Rectification Stage of China's Trust Industry (1993-2001) III. Standardization Stage of China's Trust Industry (2002 - present) I.

China's "trust" the earliest import of the word is in Shanghai, in 1919, the polymerization of the Shanghai branch of the Xingcheng Bank set up a trust department, which is China's history of the first trust department, which can be said to be the beginning of China's modern trust industry. 1921 China's General Merchants Trust Company was established, which is China's first professional trust company, and from then on the trust company began to enter the stage of history. From then on, the trust company began to ascend to the stage of history, and get very fast development.

In addition to the private trust industry, the government trust institutions in 1931 also began to appear. 1935, the establishment of the Central Trust Bureau, the trust industry in 1937, there has been some development.

Most of the dozen or so trust companies in Shanghai and Southeast China also operated banking, savings and insurance businesses, and there were also some banks that set up trust departments. In addition, there is the government-run Shanghai Xingye Trust Society and the Central Trust Bureau.

The businesses operated by each are similar, namely, trust deposits, trust investment, securities trust, business management trust, supervisory surveying trust, custodian trust, estate trust, guardianship trust, real estate trust, agent trust, etc., but in fact, some of these businesses do not form a complete market, and the trust industry can be said to be a "financial supermarket". The trust industry can be described as a "financial supermarket", which, in addition to the basic functions of a trust, also has the functions of a bank and other financial intermediaries. After the founding of New China, November 1, 1949 established its own trust agency - the People's Bank of China Shanghai Branch Trust Department, whose business includes real estate, transportation, warehousing, storage and other agency business.

Like all fields, the state carried out socialist transformation of the trust industry in old China. For the original private trust companies and bank trust departments, the state implemented strict management, rectification and transformation. A part of the insufficient capital, lack of normal business institutions were first eliminated out of business; the remaining were incorporated into the financial system, with the bank money together to take the road of state capitalism, but after September 1951 one after another to stop.

This is mainly in the process of reconstruction of the financial system with the transformation of public ownership as the main means, the stabilization of the financial situation and the realization of economic recovery is the main purpose of the ***, *** monopolized the property rights of financial institutions, and formed a completely unitary state-owned property rights system. With the completion of the socialist transformation task, the original trust business disappeared, for the government trust company to be confiscated and take over, and until 1952 the whole industry public-private partnership.

So far, the development of the trust industry in China came to an end. Although there was a trust department in the state-run bank, it soon contracted its business as did the private trust organizations, and finally ceased to operate.

1.2, China's trust industry recovery and expansion stage from the trust origin and development, the trust function and the level of development of the commodity economy and the perfection of the market system has a close relationship. The reintroduction of China's trust system has led to the rapid development of China's trust industry, and at the same time, the special national conditions, but also to make China's trust industry in the continuous "correction of errors" in the difficult growth.

In October 1979, after the reform and opening up of China's first trust organization - China International Trust and Investment Corporation was announced, directly under the leadership of the State Council, can handle international trust investment and financial services. Its establishment marks the beginning of China's restoration of the trust system, is the product of China's reform and opening up, is in a particular period of China's financial reform and institutional innovation.

In June 1980, the People's Bank of China formally opened the trust business according to the instructions of the State Council that banks should try to set up trust and investment companies. Since then, various banks, ministries and local *** etc. have set up trust and investment companies, among which, some provincial branches of state-owned banks have also set up trust organizations one after another.

From 1980 to the end of 1982, there are more than 620 trust and investment institutions of various types in the country, of which 186 trust department of the People's Bank of China, 266 trust department of the Bank of Construction, 96 trust department of the Bank of China, the Agricultural Bank of China's trust department of more than 20, the vast majority of which are run by the local *** and specialized banks, and a few of which are run by the central government ministries and commissions. The purpose of the establishment of the trust at that time was mainly to make full use of the excess idle funds from various channels to make up for the lack of bank credit.

The re-emergence of China's trust industry is a breakthrough in the planned economic system. However, the trust industry in China has been endowed with an advanced form of financial trust since its birth, which is much more than a fiduciary function, and it shoulders the function of mobilizing social funds and providing diversified financial services for the reform and opening up and economic development.

China's reform and opening up has greatly mobilized the enthusiasm of local *** and various departments, and the relevant policies of the People's Bank of China have led to the rapid development of the trust industry, which is basically in the stage of free development, with a certain degree of blindness. The financial function of the trust industry (mainly credit intermediary, payment function and credit creation function) has expanded the scale of capital construction to a certain extent and impacted the credit balance.

In view of this, the State Council in April 1982 issued the "Notice on Rectification of Trust Investment Institutions and Strengthening of Renewal and Reconstruction Funds Management", which stipulated that, except for the trust and investment companies approved by the State Council and authorized by the State Council, the regions and departments were not allowed to handle trust investment business, and those that had already done so were to be cleaned up within a certain period of time. Requirements for all trust investment business by the bank to do, the local trust and investment companies have stopped, this stage of rectification focus on business rectification, limited to the trust industry can only deal with entrustment, agency, leasing, consulting business.

By 1984.

Third, the development of the history of the trust

Trust is a special property management system and legal behavior, but also a financial system, with banks, insurance, securities together constitute a modern financial system.

The trust system originated in Britain, is in the United Kingdom "Yous system" on the basis of the development of a few centuries ago. However, the modern trust system was introduced to the United States in the early 19th century, after the introduction of trust in the United States to get rapid development and growth up.

The United States is currently the most sound trust system, the trust product is the most abundant, the development of the largest total number of countries. China's trust system was first born in the early 20th century, but at that time China was in a semi-colonial and semi-feudal situation, the economic foundation for the survival and development of the trust industry is extremely weak, and it is difficult for the trust industry to make a difference.

The real development of China's trust industry began in the reform and opening up, is the product of the reform and opening up. 1978, the early stage of the reform, a hundred of waste to be new, many regions and sectors of the construction of the funds generated a great demand for in order to adapt to the whole society of the financing methods and the diversification of demand for funds needs, in October 1979, China's first trust institutions - China International Trust and Investment Corporation (CITIC), the first trust company, was established by the Ministry of Finance. -China International Trust and Investment Corporation (CITIC) was born with the approval of the State Council.

Its birth marked the beginning of a new era of China's modern trust system, and greatly contributed to the development of the trust industry in China.

Fourth, try to explain the historical development of the trust

1. The origin of the trust: the trust is a special property management system and legal behavior, but also a financial system, with banks, insurance, securities together constitute a modern financial system.

The trust system originated in the United Kingdom, is in the United Kingdom, "Yous system" based on the development of a few centuries ago. However, the modern trust system was introduced to the United States in the early 19th century, after the introduction of trust in the United States to get rapid development and growth up.

The United States is currently the most sound trust system, the trust product is the most abundant, the development of the largest total number of countries. China's trust system was first born in the early 20th century, but at that time China was in a semi-colonial and semi-feudal situation, the economic foundation for the survival and development of the trust industry is extremely weak, and it is difficult for the trust industry to make a difference.

The real development of China's trust industry began in the reform and opening up, is the product of the reform and opening up. 1978, the early stage of the reform, a hundred of waste to be new, many regions and sectors of the construction of the funds generated a great demand for in order to adapt to the whole society of the financing methods and the diversification of demand for funds needs, in October 1979, China's first trust institutions - China International Trust and Investment Corporation (CITIC), the first trust company, was established by the Ministry of Finance. -China International Trust and Investment Corporation (CITIC) was born with the approval of the State Council.

Its birth marks the beginning of a new era for China's modern trust system, and greatly promotes the development of China's trust industry. Trust is trust entrustment. It originated in the 14th century in Rome, "Fidei missum" (testamentary trust) system.

At that time, this trust system was set up to enable foreigners, captives, pagans and other illegal heirs to obtain the inheritance of the estate in a legal way. That is, the owner of the property, by his will, appointed a legally qualified heir to inherit the estate, who would then pass it on to the person to whom the testator wished to make a gift.

Because of the characteristics of this system to circumvent the law of inheritance at that time, initially not recognized by Roman law, only to the late Roman state to give its legal status. Although the ancient Roman trust system was far from today's trust system in terms of structure and function, it was essentially a system in which the property was given to the trustee to manage, and the proceeds were enjoyed by the beneficiaries.

This system has since been adopted in England. In the UK, the trust was initially undertaken by an individual, and the settlor would find a trusted family member, friend or solicitor to act as trustee, without remuneration, and call it a "civil trust".

This relies on personal relationships and trust, in the management, the use of property, often many problems and property losses, disputes. 1883 British *** promulgated the "Trustee Ordinance", the rights and obligations of individual trustees through the law to limit.

In 1896, the British *** also promulgated the "Crown Trustees Ordinance", which provides that the court may elect trustees. The electees were generally judges of the court, and were still individuals acting as trustees.

The "Crown Trustees Ordinance" published in 1907 provided that *** could open a trust and become a trustee. Under the historical conditions at that time, this trust was mainly for the British military personnel to participate in the war for probate trusts.

Until 1908 by the official establishment of the trust bureau was officially established in London, and in the major cities have set up branch offices.

Although some fees are charged for these businesses, trusts organized by *** are not for profit. Instead, trusts run by legal persons were started on the basis of the Companies Act 1899 and the Legal Entities Trustees Ordinance 1925.

The trust business in the United Kingdom is mainly a part-time business of banks and insurance companies, and the proportion of companies specializing in the trust business is relatively small. 90% of the total trust business in the United Kingdom is concentrated in Westminster, Maitland, Barclays, Suez and other four major commercial banks set up a trust department and trust companies.

As most of the trust business is undertaken by individuals, the trust in the UK is mainly civil. The main ones borne by legal persons are stocks, bonds and other agency business and annuity trusts, investment advisers, agents for land sales and purchases and other businesses.

Among the countries in the world, although the development of the British trust industry for a longer period of time, and the United States of America's trust originated in the United Kingdom, but the degree of its development is far less than that of the United States and Japan. From 1792, when the first trust company was established in the United States, to the beginning of the 19th century, trusts were mostly operated by insurance companies as a sideline business, mainly dealing with the property of the deceased according to their wishes during their lifetime.

Shortly thereafter, as the trust business expanded, the trust companies of the time became independent from the insurance companies. Especially after 1830, trust companies proliferated in the United States.

By the end of the nineteenth century, in American society, trust companies were not only actively involved in raising and offtaking railroad and mining bonds, but also in handling the management of money and property for ordinary people. If the trust business in the United States was learned from England, the trust industry in Japan was introduced from the United States.

The trust business in Japan was initially operated within banks, and was first opened in 1902 after the establishment of the Industrial Bank of Japan.

Soon after, several major banks such as Yasuda Bank (today's Fuji Bank), Daiichi Bank (today's Mitsubishi Bank), and Mitsui Bank also started trust business. The Tokyo Trust Company, established in 1904, was the first specialized trust company in Japan.

The establishment of this trust company was the beginning of the great development of the trust business in Japan. Subsequently, all kinds of trust companies soon appeared in various parts of the country of Japan, with more varieties of business, and their operation was also more chaotic.

After the First World War, many trust companies closed down due to the economic depression. Japan *** took this opportunity to promulgate the Trust Law and the Trust Business Law.

These two laws provided detailed regulations on the operating principles and supervision of the trust business, and became the basic law for the development of the trust business in Japan.

After the mid-19th century, the world's more economically developed countries, with the increase in the form of financial instruments, people's view of wealth and values have changed. The trustee in the trust relationship also changed the original kind of trust relationship in the negative as property holders, but with a positive attitude to the use of trust property proliferation, in the social economy, the trust is increasingly burdened.

V. The origin of the trust industry

The trust system originated in the United Kingdom, is in the United Kingdom, "Youssef" on the basis of the development of a few centuries ago.

The British "Use system" (Use) is the pre-birth of the trust system. The creation of the Use system dates back to the 13th century in feudal England.

At that time, it was customary for religious people to donate their land to the church after they died, which led to an increase in the church's land. But according to English law at the time, church land was exempt from taxation.

The proliferation of church lands meant a gradual decline in the revenue from state taxes. This undoubtedly affected the interests of the king and the feudal nobility.

As a result, in the early 13th century King Henry III issued a Statute of Forfeiture, which required the king's permission for any gift of land to a church community, and forfeiture of any unauthorized alienation or gift. In response to this new regulation, the religious made variations on their donations.

In their wills they gave away land to be owned by a third party. But at the same time, they provided for the Church to have the actual use of the land and the right to receive the income from it, which was known as the "Eos system.

However, the modern trust system was introduced to the United States in the early 19th century, after the introduction of the United States, the trust has been rapid development and growth. The United States is currently the most sound trust system, the most abundant trust products, the development of the largest total number of countries.

China's trust system was first born in the early 20th century, but at that time China was in a semi-colonial and semi-feudal situation, the economic foundation for the survival and development of the trust industry is extremely weak, and it is difficult for the trust industry to make a difference. The real development of China's trust industry began with the reform and opening up, and is a product of the reform and opening up.

In 1978, at the beginning of the reform period, many regions and departments had great demand for construction funds, and in order to meet the diversified needs of society as a whole for financing and capital requirements, China International Trust and Investment Corporation (CITIC), China's first trust organization, was approved by the State Council and was born in October 1979. It was born in October 1979 with the approval of the State Council. Its birth marks the modern trust system in China has entered a new era, but also greatly promote the development of China's trust industry.

Six, please teach the history of the development of the trust industry in Fujian Province

History Fujian abbreviated as "Min".

Tang Kaiyuan 21 years (733 years) set up "Fujian Province, the Secretary", began to call "Fujian". In the Southern Song Dynasty, there were 1 government, 5 states and 2 armies, so it was also known as "Eight Min".

Fujian is historically the "Maritime Silk Road", "Zheng He went to the West", *** religion and other important cultural origins and trade distribution center, Fuzhou, Xiamen was opened as one of the country's five ports of commerce. The port of Mawei at the mouth of the Minjiang River is the pioneer of China's modern shipbuilding industry and the cradle of training scientific and technological talent.

Fujian used to be an economically and culturally developed region in history. During the Song and Yuan Dynasties, with the opening of ports to the outside world and the opening of the Maritime Silk Road, Fujian had frequent trade exchanges with overseas countries and entered an economic heyday, occupying an important position in the country.

During the Ming and Qing Dynasties, Fujian's silk weaving industry, sugar industry, tea industry, shipbuilding, paper industry have developed to varying degrees. But since the feudal ruling class to implement the closed door "sea ban", the Fujian economy has been seriously affected.

Especially after modern China became semi-feudal and semi-colonial, Fujian's economy has been deteriorating, the foundation is fragile, structural deformities, to 1949 has been in the country's coastal economic development level of one of the lowest provinces.

During the Warring States period, the state of Yue was defeated by the soldiers of Chu; some of the kings of Yue fled south to Fujian and southern Zhejiang, and their descendants merged with the Min people of Fujian to become the "Min-Yue people". After the unification of China by Emperor Qin Shihuang in 221 BC, Fu built Minzhong County, which appeared on the map of China for the first time as an administrative division unit.

In the middle of the Tang Dynasty, five prefectures were established, namely Fu, Jian, Quan, Zhang and Ting. In the 21st year of the Tang Dynasty (733 AD), in order to strengthen the border defense; set up the "Fujian Province, the strategic ambassador".

The term "Fujian" began to appear. During the Five Dynasties period, Min Wang Wang Shenzhi according to the establishment of Min Min state basically laid the later provincial boundaries.

Fujian is also known as "eight Fujian", the Southern Song Dynasty Fu construction l Fu 5 state 2 army, Fu, state, army for the same level of administrative institutions, *** count 8, so called "eight Fujian". After the Song Dynasty, the basic inheritance of the old system.

Twenty-third year of the Qing Emperor Kangxi (1684 AD) set up Taiwan Province, Guangxu 12 years (1886 AD) set up a separate province. At the end of the Qing Dynasty, Fujian **** had 9 prefectures and 2 states, 58 counties and 6 halls.

After the 1911 Revolution, the Republic of China two years (AD 1913) abolished the government, state system, set up provinces, provinces, counties, three-tier system, several adjustments to the liberation of the end, the province set up 2 cities, 7 administrative inspectorates, **** there are 67 counties. 1949 Fujian after the liberation of the province set up 2 cities, 8 prefectures, **** there are 67 counties.

1951, the addition of Quanzhou, Zhangzhou 2 cities, entrusted to the leadership of the Specialized Agency. Since then, more than 20 years, the administrative division has been adjusted several times.

Since the opening of the Revolution, Fujian has adjusted its administrative division according to its own characteristics, and the region has been changed into a prefecture-level city, forming a city with county system. By the end of 2o00, the province set up nine provincial municipalities, *** there are 14 county-level cities, 25 municipal districts, 46 counties (including Kinmen County).

Fujian has a long history, science and culture had a great time. 5000 years ago, the ancestors were here to live and reproduce, and created a comparable to the Yangshao and chemical, Hemudu culture of the Tanshishan culture.

During the Three Kingdoms period, Fujian became a naval base for Sun Wu and a port for foreign trade because of its advanced shipbuilding and navigation technology. During the Southern Song and Yuan dynasties, Quanzhou became one of the largest commercial ports in the world and had commercial relations with more than 100 countries and regions, forming the famous "Maritime Silk Road".

During the Ming Dynasty, Zheng He sailed to the West many times in Fujian, recruiting sailors, building ships, and sailing from Fujian. During the five years of the Tongzhi period of the Qing Dynasty, the Fuzhou Shipping Bureau and China's first naval school were founded in Mawei; it became the cradle of China's modern navy and shipbuilding industry.

The history of Fujian is full of talented people, emerged a number of influential and outstanding figures in Chinese history, such as astronomer Su Song, the originator of the world's forensic medicine Song Ci, thinker, writer Li Zhi, phonetics Chen Di, scholars, calligraphers, Huang Daozhou, Caixiang, literati Yen Yu, Yang Yi, Liu Yong, historians, Zheng Qiao, Yuan Shuju, the national heroes Zheng Chenggong, Lin Zexu, thinkers, translators Yen Fu, Lin Shu, railroad construction experts Zhan You and so on. Railroad construction expert Zhan Tianyou and so on. With their boldness and dedication, they have made indelible contributions to the development and prosperity of the Chinese nation.

Historically, the people of Fujian have fought countless heroic struggles against oppression and aggression, and have a glorious revolutionary tradition. Under the leadership of China *** and for the liberation of the Chinese people, the people of Fujian have contributed thousands of outstanding sons and daughters and made remarkable contributions.

Fujian is one of the key provinces in the country's old districts, the distribution of old districts throughout the 62 counties (cities); of which there are 46 old districts of counties (cities), 518 old districts of the townships (towns), 7,772 old districts of the administrative villages, 2,919 revolutionary old districts of the base of the village.

VII. How long has the trust in China

1. The origin of the trust: the trust is a special property management system and legal behavior, but also a financial system, with banks, insurance, securities together constitute a modern financial system.

The trust system originated in the United Kingdom, is in the United Kingdom "Yous system" on the basis of the development of a few centuries ago. However, the modern trust system was introduced to the United States in the early 19th century, after the introduction of trust in the United States to get rapid development and growth up.

The United States is currently the most sound trust system, the trust product is the most abundant, the development of the largest total number of countries. China's trust system was first born in the early 20th century, but at that time China was in a semi-colonial and semi-feudal situation, the economic foundation for the survival and development of the trust industry is extremely weak, and it is difficult for the trust industry to make a difference.

The real development of China's trust industry began in the reform and opening up, is the product of the reform and opening up. 1978, the early stage of the reform, a hundred of waste to be new, many regions and sectors of the construction of the capital has generated a great demand for the need to adapt to the whole society on the financing methods and the diversification of demand for funds, in October 1979, China's first trust organization - China International Trust and Investment Corporation (CITIC) was established by the Ministry of Finance of the People's Republic of China. -China International Trust and Investment Corporation (CITIC) was born with the approval of the State Council.

Its birth marks the beginning of a new era for China's modern trust system, and greatly promotes the development of China's trust industry. Trust is trust entrustment. It originated in the 14th century in Rome, "Fidei missum" (testamentary trust) system.

At that time, this trust system was set up to enable foreigners, captives, pagans and other illegal heirs to obtain the inheritance of the estate in a legal way. That is, the owner of the property, by his will, appointed a legally qualified heir to inherit the estate, who would then pass it on to the person to whom the testator wished to make a gift.

Because of the characteristics of this system to circumvent the law of inheritance at that time, initially not recognized by Roman law, only to the late Roman state to give its legal status. Although the ancient Roman trust system was far from today's trust system in terms of structure and function, it was essentially a system in which the property was given to the trustee to manage, and the proceeds were enjoyed by the beneficiaries.

This system has since been adopted in England. In the UK, the trust was initially undertaken by an individual, and the settlor would find a trusted family member, friend or solicitor to act as trustee, without remuneration, and call it a "civil trust".

This relies on personal relationships and trust, in the management, the use of property, often many problems and property losses, disputes. 1883 British *** promulgated the "Trustee Ordinance", the rights and obligations of individual trustees through the law to limit.

In 1896, the British *** also promulgated the "Crown Trustees Ordinance", which provides that the court may elect trustees. The electees were generally judges of the court, and were still individuals acting as trustees.

The "Crown Trustees Ordinance" published in 1907 provided that *** could open a trust and become a trustee. Under the historical conditions at that time, this trust was mainly for the British military personnel to participate in the war for probate trusts.

Until 1908 by the official establishment of the trust bureau was formally established in London, and in the major cities have set up branch offices.

Although some fees are charged for these businesses, trusts organized by *** are not for profit. Instead, trusts run by legal persons were started on the basis of the Companies Act 1899 and the Legal Entities Trustees Ordinance 1925.

The trust business in the United Kingdom is mainly a part-time business of banks and insurance companies, and the proportion of companies specializing in the trust business is relatively small. 90% of the total trust business in the United Kingdom is concentrated in Westminster, Maitland, Barclays, Suez and other four major commercial banks set up a trust department and trust companies.

As most of the trust business is undertaken by individuals, the trust in the UK is mainly civil. The main ones borne by legal persons are stocks, bonds and other agency business and annuity trusts, investment advisers, agents for land sales and purchases and other businesses.

Among the countries in the world, although the development of the British trust industry for a longer period of time, and the United States of America's trust originated in the United Kingdom, but the degree of its development is far less than that of the United States and Japan. From 1792, when the first trust company was established in the United States, to the beginning of the 19th century, trusts were mostly operated by insurance companies as a sideline business, mainly dealing with the property of the deceased according to their wishes during their lifetime.

Shortly thereafter, as the trust business expanded, the trust companies of the time became independent from the insurance companies. Especially after 1830, trust companies proliferated in the United States.

By the end of the nineteenth century, in American society, trust companies were not only actively involved in raising and offtaking railroad and mining bonds, but also in handling the management of money and property for ordinary people. If the trust business in the United States was learned from England, the trust industry in Japan was introduced from the United States.

The trust business in Japan was initially operated within banks, and was first opened in 1902 after the establishment of the Industrial Bank of Japan.

Soon after, several major banks such as Yasuda Bank (today's Fuji Bank), Daiichi Bank (today's Mitsubishi Bank), and Mitsui Bank also started trust business. The Tokyo Trust Company, established in 1904, was the first specialized trust company in Japan.

The establishment of this trust company was the beginning of the great development of the trust business in Japan. Subsequently, all kinds of trust companies soon appeared in various parts of the country of Japan, with more varieties of business, and their operation was also more chaotic.

After World War I, many trust companies closed down due to the economic depression. Japan *** took this opportunity to promulgate the Trust Law and the Trust Business Law.

These two laws provided detailed regulations on the operating principles and supervision of the trust business, and became the basic law for the development of the trust business in Japan.

After the mid-19th century, the world's more economically developed countries, with the increase in the form of financial instruments, people's view of wealth and values have changed. The trustee in the trust relationship also changed the original kind of trust relationship in a negative way as property holders, but with a positive attitude to the use of trust property proliferation, in the social economy, the trust is increasingly responsible for participation in a country's economic construction.

VIII. A brief history of the development of the new era of trust

1987 - approved by the People's Bank of China, the Baotou Municipal Bureau of Finance and the People's Bank of China Baotou Branch *** with the formation of the Baotou City Trust and Investment Company.

1993 - The company obtained the official membership of Shenzhen and Shanghai stock exchanges.

1995 - agent issue Baotou Iron and Steel (Group) Limited Liability Company's three-year corporate bonds of 100 million yuan; in the same year by the Baotou City *** assessed as remarkable economic construction achievements.

1997 - the company implemented the shareholding restructuring, the introduction of new shareholders 5, for the issuance of a new business license, the registered capital increased to 300 million yuan RMB, the scope of business and scale of further expansion.

1998 - the opening of safe deposit box leasing business, hardware equipment and management services to reach the domestic advanced level, opened up a new mode of personal custody business

2000 - the company is located in the heart of Baotou City, the completion of the trust financial building

2001 - commissioned by the People's Bank of China, the China Securities Regulatory Commission, the trusteeship of the Sanya Central Asia in Hainan Province Trust and Investment Company in Haikou, Tianjin, Chongqing and other places of the eight securities business offices, the successful completion of the hosting task, the People's Bank of China, China Securities Commission notification of commendation.

2002 - New Era Securities LLC was incorporated in Beijing.

2003 - Approved by China Banking Regulatory Commission for re-registration, the company was renamed as "New Era Trust & Investment Co.

2004 - The company's first trust product after re-registration, "Jucai Niu Equity *** Fund Trust Program", was announced.

2005 - The company pioneered the cooperation with China Development Bank and the head office of Industrial and Commercial Bank of China.

2006 - signed a comprehensive cooperation agreement with China Development Bank, Agricultural Bank of China Inner Mongolia Branch, Bank of China Inner Mongolia Branch, China Construction Bank Inner Mongolia Branch, Industrial and Commercial Bank of China Inner Mongolia Branch and other banking and financial institutions, and the framework of strategic cooperation was basically formed.

2007 - the 20th anniversary of the establishment of the company.

2008 - A new model of business cooperation between the Company and banks was developed.

2009 - Changed its name to "New Era Trust Co., Ltd.", which opened a new chapter for the company to serve high-end customers and build a professional financial management organization.