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China's trust assets shrink in Q1

Photo taken on Nov. 3, 2020 shows the view of the Lujiazui area of Pudong, east China's Shanghai. (Xinhua/Ding Ting)

BEIJING, June 26 (Xinhua) -- The assets of China's trust industry dipped slightly by the end of the first quarter of this year amid the downward pressure on the economy and the fluctuations in the capital market, industry data showed.

The country's outstanding trust asset value came in at 20.16 trillion yuan (about 3 trillion U.S. dollars) at the end of the first quarter, down 0.22 trillion yuan or 1.06 percent from a year earlier, data from the China Trustee Association showed.

The operating revenue of China's trust industry fell 28.25 percent year on year to 20.52 billion yuan, the data showed.

A total of 3.54 trillion yuan worth of trust investment went to the securities sector, up 5.51 percent month on month. The scale of funds that went into industrial and commercial enterprises, and the real estate sector dropped 4.23 percent and 10.85 percent, respectively, on a monthly basis. ■