CHINA Trends and Developments Contributed by: Jun Zhang, Xiaochu Zhang and Wan Hu, Dacheng Law Offices
Conclusion The local policies and experiences in Beijing, Hang - zhou and Shanghai mark a key breakthrough in the transformation of China’s trust industry from a “capi - tal channel” to a “service trust”. In the future, with the improvement of the registration system and the enhanced tax reforms, civil trusts will play a great - er role in wealth inheritance, social governance and financial inclusion. As legal practitioners, the authors will continue to pay attention to industry dynamics, actively participate in policy making and practical implementation, and work with financial institutions to further strengthen their comprehensive service capabilities, so as to welcome the new era of family (business) wealth management.
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