Focus on low-price "inside-out" competition and other irregular behaviors, regulatory reports on the latest issues in the trust industry.

Journalists have learned that regulatory authorities have issued a notice to multiple trust companies forwarding the contents of the Asset Management Department's fourth quarter 2025 report, clarifying issues such as low-priced "internal competition" and improper management of bond trading in the trust industry. Currently, some trust companies have conducted self-inspections and formulated rectification plans for the problems identified in the self-inspections. "Specifically, this time the regulators pointed out multiple dimensions of issues, including corporate governance, compliance control, and data reporting, as well as underlying management loopholes in bond trading, policy-backed projects, internet loans, and private equity cooperation, and risks in core business. In addition, the industry's problem of low-quality and low-priced 'internal competition' has also been specifically mentioned," revealed a trust industry insider.