China's trust sector shrinks in Q1 as financial regulation tightens
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China's trust industry shrank in scale in the first quarter (Q1) this year while continuing its momentum in supporting the real economy.

Total trust assets of the country's 68 market players reached 22.54 trillion yuan (about 3.27 trillion U.S. dollars) by end-March, down 0.7 percent compared with Q4 2018, data from the China Trustee Association showed.

Their Q1 business revenue also decreased by over 5 percent year-on-year as financial regulation tightens.

Industrial and commercial enterprises took the lion's share of total trust investment in Q1, followed by financial institutions, basic industries and real estate.

The balance of the trust capital invested in industrial and commercial firms stood at 5.67 trillion yuan by end-March, accounting for 29.8 percent of the capital's total balance.

Author： 　　　Source：xinhua　　　 Editor：Yang Fan