2009Journal of Northwest University of Political Science and LawRequires access

On the Dissimilation of China's Trust Institution:Some Comments on Legal Structure of China's Present Trust Products

Yigang Sun

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Abstract

China's Trust Law has recognized the legality of double-ownership structure on property though Chinese law system is considered as the continental law whose civil law claims that one property,one ownership.Encouraged by the trust law,thus,many financial products have been designed in the name of trust by Chinese trust companies to expand their business.However in this article,it holds that most of so-called trust products have not really reflected the legal characteristics of trust and such products cannot be considered as trust.Therefore,for the purpose of clarifying the knowledge concerning trust,some legal issues about the existing trust products are designed to explain the legal characteristic of a real trust.

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What this paper is about

China's Trust Law has recognized the legality of double-ownership structure on property though Chinese law system is considered as the continental law whose civil law claims that one property,one ownership.Encouraged by the trust law,thus,many financial products have been designed in the name of trust by Chinese trust companies to expand their business.However in this article,it holds that most of so-called trust products have not really reflected the legal characteristics of trust and such products cannot be considered as trust.Therefore,for the purpose of clarifying the knowledge concerning trust,some legal issues about the existing trust products are designed to explain the legal characteristic of a real trust.

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Available abstract

China's Trust Law has recognized the legality of double-ownership structure on property though Chinese law system is considered as the continental law whose civil law claims that one property,one ownership.Encouraged by the trust law,thus,many financial products have been designed in the name of trust by Chinese trust companies to expand their business.However in this article,it holds that most of so-called trust products have not really reflected the legal characteristics of trust and such products cannot be considered as trust.Therefore,for the purpose of clarifying the knowledge concerning trust,some legal issues about the existing trust products are designed to explain the legal characteristic of a real trust.

Key concepts: Trust law, Blind trust, Express trust, Settlor, Principle of legality, China, Business, Law

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