China’s trust sector amasses Rmb3.7 trillion in assets

With the help of light regulation and financial innovation, China’s trust industry has boomed in the past two years, with total assets hitting Rmb3.7 trillion ($580 billion) as of June 30, up 23% in the first half alone, and 28% since the end of June 2010. These figures, released by the China Trust Association (CTA) yesterday, show the 65-company industry expanding fast as the domestic mutual-funds industry struggles, having shrunk Rmb100 billion to Rmb2.3 trillion in AUM over the…