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Business Trusts in China: A Reality Check

This Article examines the unique phenomenon of Chinese business trusts, which have burgeoned following the enactment of the Trust Law by the People's Republic of China in 2001. It argues that a major reason why proper business trusts have not yet taken root in China is her systemic failure to appreciate and adhere to the core principles of trust law. This systemic distortion is shared across private investors, trust companies, and regulators. Regulatory tightening is only partially effective in guiding the industry to legitimate trust business. The key to accomplishing this goal lies in implementing the core principles of trust law in judicial practice.