The "rope" of supervision of cooperative business between banks and trust companies has been tightened again. The China Banking Regulatory Commission recently issued the Notice on Regulating Bank Credit Business (hereinafter referred to as the Notice), requiring banks not to use trust channels to evade supervision, realize false statements of assets, and implement list management of trust companies. And clearly put forward that trust funds should not be illegally invested in real estate, local government financing platform, stock market, overcapacity and other restricted or prohibited areas.

Experts in the industry generally believe that the Notice embodies the idea of "double attack", starting with banks and trust companies, strictly blocking regulatory loopholes and strictly prohibiting violations. "Taking regulating the flow of bank-trust cooperation funds as an example, the new regulations require that bank-trust cooperation funds shall not be illegally invested in real estate, local platforms, stock markets, overcapacity and other restricted or prohibited areas. At present, the illegal operation business that is still crossing the river by feeling the stones will be strictly managed in the future, and the difficulty of real estate financing and platform financing will increase, which may trigger the refinancing risk of some enterprises. " Qu Qing, general manager of asset management department of Huachuang Securities, said.

"The above provisions have a qualifier, which is' violation'. Not all investment in these areas will not work, but it must comply with relevant industrial policies and financial policies. " An official of a trust company in Beijing said. He believes that compliant real estate trust business refers to projects that meet the regulatory requirements of Article 432. Previously, some banks used trust channels to finance real estate enterprises in the form of equity, income rights and even current loans, which was illegal business.

Whatever it is, real estate speculation is not desirable.