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Trusts – a signal of disguised distress

14 June 2012

A boom in trust financing is not all it may seem – we estimate that 70-80% of trust credit in 1Q12 was used to roll over old debts rather than invested in new projects

RENMINBI COMPASS

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Renminbi Compass, a new research service launched by the FT, aims to act as a navigational guide through the expanding universe of renminbi asset classes. With the Chinese currency gaining ever-wider acceptance around the world and Beijing taking steps to open its capital account, we are broadening our research coverage to include not only equity funds but also all other important renminbi asset classes, such as chengtou bonds, dim sum bonds, real estate, trust products, underground banking, art, antiques and several others.