China's trust assets expand in second quarter

BEIJING, Nov. 21 (Xinhua) -- The assets of China's trust industry have recorded steady expansion in the second quarter of this year, industry data shows.

The value of outstanding trust assets came in at 27 trillion yuan (about 3.75 trillion U.S. dollars) as of the end of June, up 5.32 trillion yuan or 24.52 percent from a year earlier, data from China Trustee Association shows.

The structure of trust investment has continued to optimize, with the securities market attracting a total of 8.34 trillion yuan, or 41.81 percent of the money, according to the association.

Liang Guangyong, a researcher with the association, said that many trust companies have been actively exploring the use of financial instruments such as long-term equity investment.

As of Nov. 20, China's registered charitable trusts numbered 2,110, managing over 8.1 billion yuan, according to Charity in China, an online charity information disclosure platform.