China Trust Asset Growth Slows in Shadow Banking Campaign

China’s trust assets expanded at the slowest pace in two years as the government cracks down on shadow banking and investors reassess the risks of the high-yield investments.

Trust companies’ assets under management climbed 6.4 percent to 12.5 trillion yuan ($2 trillion) as of June 30 from three months earlier, the China Trustee Association said in a statement yesterday. That’s the slowest growth since the first quarter of 2012 and compares with an average annual gain of 50 percent since 2008.