Chinese trusts' assets hit 11.73t yuan

BEIJING -- Assets entrusted to the 68 Chinese trust management firms hit 11.73 trillion yuan ($1.92 trillion) at the end of March, up 7.52 percent from the beginning of the year, said the Chinese Trustee Association (CTA) on Wednesday.

Quarter-on-quarter assets growth rate remained between 7 percent and 8.3 percent in the first quarter of last year, less than the 11.77-percent quarter-on-quarter growth rate averaged from 2010 to the first quarter of 2013, according to the CTA.

The annualized proceeds rate of China's trust products equalled 6.44 percent in the first quarter, lower than the annual proceeds rate of 7.4 percent last year.

The drop in proceeds rate can be attributed to the companies' strategies to let consumers earn more so as to cope with the fierce competition and accelerated liberalization of interest rates, said Wang Lijuan, deputy head of the CTA.

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