According to the data released by the general interest standard, the issuance and establishment markets of the collective trust market in January were significantly lower than those in December last year, but there was little difference from the same period last year. Specifically, in January 2020, 60 trust companies participated in the issuance and 58 trust companies established products. Among them, 1575 products were issued, down 40.4% on a month on month basis, and 1687 products were established, down 29.9% on a month on month basis.
In February, as of February 21, a total of 550 trust products have been issued, which is still in a downward trend compared with January.
According to the Research Report of Zhongrong trust, on the one hand, the sharp decline in the collective trust market in January was due to the acceleration of the trust companys work before the year, which pushed up the number of product issuance and establishment; on the other hand, the suspension of work and production during the long Spring Festival holiday, which jointly pushed down the performance of the trust market in January. For the impact of the new crown epidemic, as the outbreak is near the end of January, it is expected that the impact will be concentrated in February, and the impact on January is relatively small.
In February, in the market of late spring cold, the issuance of trust products gradually recovered, and the trust industry began to resume work online.
Video conference, online exhibition industry and so on have become the norm of many trust practitioners.
A Northern Trust told reporters that the company started cloud back to work on February 3. At 9 oclock every morning, he and his friends hold an hours morning meeting at Tencent meeting, which has been maintained for nearly a month.
Zhou Yu also revealed that in the process of remote exhibition, the risk is increasing. First, we cant go to the site to do our best; second, we cant sign the contract in person.
Science and technology are the hard core strength of the trust, the Northern Trust told reporters on February 27. This years epidemic will force many trust institutions to increase investment in science and technology.
According to the reporter, many trust institutions carry out business in an orderly manner under the authorization of science and technology.
Zhang yanru, general manager of risk control department of Ping An Trust, said that after the outbreak, the company fully evaluated and optimized the risk management and control means in special periods, and launched the remote due diligence method, aiming to make full use of various Internet query tools and remote communication tools, deepen and consolidate the non on-the-spot content and replace the on-the-spot content to the greatest extent; meanwhile, the content and quality of the content should still meet the requirements of The companys due diligence management measures and relevant business due diligence requirements.
For the wealth side of trust, Yunnan trust wealth management center has become one of the trusts that developed online services through the self developed fortune fortune system and embedded in the official account of WeChat.
On the whole, the trust market is gradually improving its acceptance of paperless and mobile online financial services.
Zhongrong trust also said that the company has a strict product launch process, from due diligence of the project department to risk management department for project risk control, and the trust Committee for review and decision-making, and then the product has to go through the product procurement meeting and product roadshow, and can only be launched after passing the test of various levels. During the epidemic, wealth consultants participated in the product roadshow on time, fully understood the basic elements of each product, capital investment direction, repayment source, risk control measures and other key points, and conducted product inspection for customers.
One trust practitioner said that trust companies with high application level of financial technology were less affected. The epidemic situation restricts face-to-face or on-site business marketing, and promotes the transfer of trust business from offline to online. For example, in the process of trust product sales, online signing and double recording will reduce the impact of the epidemic; online office system is conducive to reducing the impact of epidemic isolation. Therefore, trust companies with high level of information, digital and intelligent development have more advantages, which is conducive to easing the impact on the exhibition industry. However, the above practitioners said that small and medium-sized trust companies with weak scientific and technological strength were more affected by the epidemic, especially those with businesses concentrated in the severely affected areas.
Credit business is still favored
In the second half of 2019, credit risk occurred frequently. According to the reporter, many trust institutions added political trust projects. Zhou Yu, the trust manager of the South China Trust, said political and credit projects were still favored this year.
According to the type of business direction of the companys exhibition industry, Zhou Yu confessed that it is mainly political and credit projects, high credit central state-owned enterprises and real estate projects, and real estate customers are also in the top 30. During the epidemic, on the one hand, the company had a relatively good understanding of the overall credit status of its customers who had previously cooperated with the company; on the other hand, for relatively unfamiliar customers, the required credit level was also improved, and loan customers were mainly targeted at high credit users.
As for the business direction of trust, Zhongrong trust research report points out that in the future, the scale of the basic industry will remain high in the future. Although the recent outbreak of the new crown epidemic has affected the business development, the basic industry trust will be the main support point of the trust business in the future, especially considering that the policy makers are likely to issue a series of policies to stimulate the economy It may be supported by more policy dividends.
Zhou Yu also revealed that the company is carrying out remote face-to-face signing, feeling that the risk is quite large. The risk, he said, was that the contract could not be signed in person and conscious fraud could not be prevented. But there is really no better way.
He said that when the epidemic passed, he would go to make up the face-to-face signature formalities with the business customers he had done to minimize the business risk.
The trust practitioners said that during the epidemic period, the trust companys operation difficulty was increased in the short term. For example, the epidemic has inhibited the development of trust business activities, affected customer demand for financial services, and significantly slowed down the progress of new business promotion and implementation.
Trust practitioners also said that they should not only see the negative impact of the epidemic, but also contain some new opportunities. For example, during the outbreak, the value of charitable trusts was highlighted. In the future, the trust should do a good job of performance impact assessment according to the impact of the epidemic, and adjust the business objectives and assessment rhythm in a timely manner.
(at the request of the interviewer, Zhou Yu is a pseudonym)