CITIC Trust is a leading trust company in China with comprehensive capabilities. It primarily operates trust business, proprietary business and asset management business of professional subsidiaries, providing customers with comprehensive financial products and services such as trust services, financing business, wealth management, QDII wealth management and equity investment.
In 2025, CITIC Trust coordinated business transformation and risk resolution, focused on its position as “a private asset management institution with trust characteristics”, carried out business innovation in multiple dimensions and achieved steady growth in operating performance. It received multiple honours and awards, including the “Excellent Trust Company” award from Securities Times and the “Honest Trust · Outstanding Company Award” from Shanghai Securities News.
Transformation development
Leveraging the function of service trust. The structure of trust business has been continuously optimised, with the scale of asset service trust accounting for 47%, which is higher than the industry level. The scale of annuity trusteeship service exceeded RMB100 billion, while the occupational annuity business newly covered 7 provinces and the investment performance remained leading in the industry. The scale of family trusteeship exceeded RMB110 billion. The risk disposal service trust continued to lead the industry and the first national equity trust was registered. It launched the prepaid fund service trust to help foster a secure consumer ecosystem.
Enhanced competitiveness of asset management trust. CITIC Trust deepened cooperation with large financial institutions, maintained the leading scale of fixed-income asset management trust business in the industry, of which the scale invested in the securities market exceeded RMB1.3 trillion; the scale of the Rui series multi-strategy TOF products returned to the RMB10-billion level, winning the Golden Bull Award from China Securities Journal for three consecutive years.
Built comprehensive financial service advantages. Jointly with CITIC-Prudential Life, CITIC Pension and CITIC Bank, CITIC’s first “four-in-one” trust pension service project was launched. CITIC Trust cooperated fully with CITIC Bank, CITIC Securities and CITIC Financial Assets to launch a comprehensive financing plan of HK$7 billion for Quzhou development.
Deeply rooted in capital market. CITIC Juxin (Beijing) Capital Management Co., Ltd. won many industry authoritative awards such as “Top 10 Best Military Industry Investment Institutions” and “Best Early-stage Investment Institution in China’s Advanced Manufacturing Field”. CITIC Xinhui International Capital Co., Ltd. actively laid out around three directions, namely overseas investment, asset management and wealth management, and explored the construction of a cross-border financial service platform. CITIC-Prudential Asset Management Company Limited deeply engaged in the entire chain of investment research, products and sales, with the fund management scale hitting a record high.
Trust asset structure – categorised by new classifications of trust business
Operation management
Enhanced comprehensive risk management system. Continuously reinforcing the comprehensive risk management system characterised by “Four Levels” and “Three Lines of Defence”, CITIC Trust enhanced risk consolidation and penetrating oversight, and strictly upheld the bottom line of risk compliance. It actively reduced the scale of trust products involving public investors and posing stability concerns, while prudently advancing risk disposal and resolution. CITIC Trust earnestly implemented real estate financial policies and actively strove for policy support, thereby driving significant results in major risk mitigation in real estate.
Refined capital management. CITIC Trust maintained a prudent and stable operating approach while steadily promoting the development of a refined capital management system. While increasing the scale of trust assets, CITIC Trust optimised its asset structure to achieve efficient capital utilisation. By the end of 2025, CITIC Trust’s net capital coverage ratio reached 154%, with a net capital balance of RMB27.7 billion.
Strengthened the integration of technological innovation with business operations. A company-level intelligent agent development platform has been built. As the only trust company awarded the Financial Technology Development Award by the People’s Bank of China, the standard business hosting and operation platform stands out. CITIC Trust continued to improve the informatisation level and processing capacity of operations, reducing the operating cost per unit of trust assets by 32%.
Transformation development
Leveraging the function of service trust. The structure of trust business has been continuously optimised, with the scale of asset service trust accounting for 47%, which is higher than the industry level. The scale of annuity trusteeship service exceeded RMB100 billion, while the occupational annuity business newly covered 7 provinces and the investment performance remained leading in the industry. The scale of family trusteeship exceeded RMB110 billion. The risk disposal service trust continued to lead the industry and the first national equity trust was registered. It launched the prepaid fund service trust to help foster a secure consumer ecosystem.
Enhanced competitiveness of asset management trust. CITIC Trust deepened cooperation with large financial institutions, maintained the leading scale of fixed-income asset management trust business in the industry, of which the scale invested in the securities market exceeded RMB1.3 trillion; the scale of the Rui series multi-strategy TOF products returned to the RMB10-billion level, winning the Golden Bull Award from China Securities Journal for three consecutive years.
Built comprehensive financial service advantages. Jointly with CITIC-Prudential Life, CITIC Pension and CITIC Bank, CITIC’s first “four-in-one” trust pension service project was launched. CITIC Trust cooperated fully with CITIC Bank, CITIC Securities and CITIC Financial Assets to launch a comprehensive financing plan of HK$7 billion for Quzhou development.
Deeply rooted in capital market. CITIC Juxin (Beijing) Capital Management Co., Ltd. won many industry authoritative awards such as “Top 10 Best Military Industry Investment Institutions” and “Best Early-stage Investment Institution in China’s Advanced Manufacturing Field”. CITIC Xinhui International Capital Co., Ltd. actively laid out around three directions, namely overseas investment, asset management and wealth management, and explored the construction of a cross-border financial service platform. CITIC-Prudential Asset Management Company Limited deeply engaged in the entire chain of investment research, products and sales, with the fund management scale hitting a record high.
Trust asset structure – categorised by new classifications of trust business
Operation management
Enhanced comprehensive risk management system. Continuously reinforcing the comprehensive risk management system characterised by “Four Levels” and “Three Lines of Defence”, CITIC Trust enhanced risk consolidation and penetrating oversight, and strictly upheld the bottom line of risk compliance. It actively reduced the scale of trust products involving public investors and posing stability concerns, while prudently advancing risk disposal and resolution. CITIC Trust earnestly implemented real estate financial policies and actively strove for policy support, thereby driving significant results in major risk mitigation in real estate.
Refined capital management. CITIC Trust maintained a prudent and stable operating approach while steadily promoting the development of a refined capital management system. While increasing the scale of trust assets, CITIC Trust optimised its asset structure to achieve efficient capital utilisation. By the end of 2025, CITIC Trust’s net capital coverage ratio reached 154%, with a net capital balance of RMB27.7 billion.
| Indicator | Year end 2025 | Year end 2024 | YoY Change | Regulatory requirement |
|---|---|---|---|---|
| Net capital | 27.7 billion | 28.9 billion | -4% | ≥RMB200 million |
| Total risk capital | 18.0 billion | 14.2 billion | +26% | Not applicable |
| Net capital coverage ratio | 154% | 203% | -49pp | ≥100% |
| Net capital/net assets | 80% | 82% | -2pp | ≥40% |