China Banking Regulatory Commission, Circular on Matters Relevant to Regulation of the Cooperation Between Banks and Trust Companies on Wealth Management Business

Applicability: The phrase “cooperation between banks and trust companies on wealth management business” means that commercial banks entrust the funds of individual clients (including private banking clients) and institutional clients with trust companies for wealth management purpose, which shall manage, utilise or dispose of the funds as a trustee according to the stipulations in the trust document.