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As of June 2025, standardized assets such as stocks and bonds accounted for more than half of China’s fund trusts by value, according to industry data.
China’s Trust Firms Pivot From Risky Debt After Crackdown
With standardized assets accounting for more than half of fund trusts by value, companies face pressure on profits as they struggle to compete
TL;DRAI
China's fund trusts reached $4.6 trillion with standardized assets exceeding 50% by June 2025, completing a regulatory pivot away from shadow banking's real estate debt. The shift forces trust firms into competitive asset management, tightening financial governance and reallocating capital away from opaque leverage into market-driven platforms.
481 words~2 min read
