중국 가족신탁제도의 문제점과 개선방안

Problems and Improvement Plan of Chinese Family Trust System

From 2014 to 2016, the compound annual growth rate(CAGR) of China’s privately held investable assets is 21%. In 2016, privately held investable assets amounted to 1.65 trillion yuan. Almost 1.58 million population has over 10 million yuan for privately held investable assets. This shows that the growth rate of China’s private wealth has exceeded GDP’s growth rate(6.7% in 2016) over the last decade, and also explained the overall size and development potential of China’s private wealth. The management and maintenance of personal wealth in China has become an area of intense pursuit by domestic and foreign wealth management institutions. On the other hand, Chinese individuals who have accumulated a certain amount of wealth were also concerned about how to transfer wealth to the next generation, which was used to grow and maintain their wealth under the current regime. Family trusts are a god way to solve individual wealth management and succession issues. Individual consigner can entrust assets to professional managers through family trusts, structure rational asset management methods, and operate their assets stably in complex family relationships. According to the formation and accumulation of wealth, it is becoming a trend to use trusts, and according to this trend, many trust companies in China have formed family trust specialized institutions to carry out family trust business. This paper describes the Chinese family trust system and related legislation, describes the actual operation situation, examines the problems existing in the family trust operation process, and suggests ways to improve it. China’s family trust is developing rapidly, but family trust in China also has many problems. Related issues include ownership of trust property, trust registration system, tax collection legislation, and the use of reverse trust institutions. The problems presented in this paper can be solved through legislation, but not all problems can be solved through legislation. In order for China fully adopt the family trust system, it is important to absorb the advantages of the trust system of other countries and to integrate it with the legal system of the mainland. In addition, if Chinese financial authorities want take advantage of the family trust system, compliance consciousness and principle of good faith is important and needs to be nurtured throughout society.