01. 人民银行回复肖钢委员关于信托法修订的建言

2022nian1yue，《renminzhengxiebao》baodao，zhongguorenminyinxingduiquanguozhengxieweiyuanxiaogangtijiaodexiudingxintuofatianzuoledafu。xiaogangweiyuanguanzhudao，woguo3200wanjiaminyingqiyeduijiazuxintuoyouqiangliedexuqiu。weicujinminyingqiyejiacaifudepingwenchuancheng，jiangdichuanchengguochengzhongminyingqiyejiacaifushehuixiaoyongdehaosun，xiaogangweiyuanjianyijiangjiazuxintuozuoweiyixiangminqicaifuchuanchengdedingcengshejiyuyituixing，qiexuyaojinyibujianlihewanshanxintuozhidu，baokuojinkuaixiudingxintuofa、jianliyujiazuxintuoxiangpeitaodejichusheshi、chutaixintuofadesifajieshiyijijiaqiangjianguan。

zhongguorenminyinxingduixiaogangweiyuandejianyizongtizancheng。renminyinxingdehuifuhanbiaoshi，xintuocaichansuoyouquanpeitaodengjizhidudequeshi，zhiyuelexintuoyewudefazhan。muqian，yinbaojianhuizhengzaituidongqicao《xintuogongsitiaoli》，jiuxintuocaichandengjineirongjinxingguiding。guanyuxintuoshuifuwenti，renminyinxingbiaoshi，keyijiejianguojijingyan，duixintuoshuishouzhengcezuochuyuanzexinghuoshouquanxingguiding。

02. 家族信托实务操作仍存在较多痛点

jiazuxintuoshuyufuwuxintuodefanchou，jikeyifahuixintuozhiduzichangelideyoushi，yekeyichongfentixianxintuoshoutuofuwudezhineng。jiazuxintuoshicujincaifupingwenchuanchengdezhongyaogongju，danzaishiwucaozuozhongrengmianlinyixiekunnan。

1. xintuocaichandengjizhiduqueshi

xiandaixintuozhiduqiyuanyuhengpingfaxixiadeyingguo。hengpingfaxizhongcunzai“shuangzhongsuoyouquan”deanpai，shoutuorenxiangyoumingyishangdexintuocaichansuoyouquan，bingduixintuocaichankaizhanjiaoyi、chuzhidenggeleiguanlihuodong；shouyirenxiangyoushizhishangdexintuocaichansuoyouquan，xiangyouxintuocaichanyunyongchanshengdeshouyi。dalufaxibuchengrenshuangzhongsuoyouquan，bixuzunxun“yiwuyiquan”deyuanze。dalufaxiguojiayinruxiandaixintuozhidu，shouxianjiumianlinsuoyouquanfangmiandelilunchongtu。jiejiandalufaxiguojiariben、hanguodejingyan，woguocaiyonglexintuocaichandengjidezuofa，yicilaishixianxintuocaichanyuweituoren、shoutuorenqitacaichanxianggelidemude。

woguo《xintuofa》dishitiaoguiding，“shelixintuo，duiyuxintuocaichan，youguanfalv、xingzhengfaguiguidingyingdangbanlidengjishouxude，yingdangyifabanlixintuodengji”。woguoweidalufaxiguojia，《xintuofa》wufazuochushuangzhongsuoyouquandeanpai，duixintuocaichandengjitichuleyaoqiu。raner，woguoxintuocaichandedengjizhidu、zhixingxizezhangqiqueshi。zhongguoxintuodengjiyouxianzerengongsiyu2016nian12yuechengli，zhongguoxindengdeyewufanweibaokuo“tigongbuxuyaobanlifadingquanshudengjidexintuocaichandedengjifuwu”，ranerxintuocaichandedengjifuwuzanweiquanmianshangxian。yinci，yiguquan、fangdichan、yishupindengzichanshelijiazuxintuo，zhangqiyilaijunwufashixiancaichandengji。

2. jiaoyixingguohuchanshengjiaodadeshuishoufudan

woguo《xintuofa》diertiaoduixintuozuoledingyi，“weituorenjiyuduishoutuorendexinren，jiangqicaichanquanweituojishoutuoren，youshoutuorenanweituorendeyiyuanyizijidemingyi，weishouyirendeliyihuozhetedingmude，jinxingguanlihuozhechufendexingwei”。《xintuofa》duixintuocaichandeyaoqiuwei“weituo”，bingweicaiyong“jiaofu”debiaoshu。raner，zaixintuoyewudeshijizhixingguochengzhong，dabufenxintuogongsijunyaoqiucaiyongxintuocaichan“jiaofu”demoshi。

yijiazuxintuoweili，ruguoxintuocaichanweiguquan、fangdichan、yishupindengzichan，yibanjunxuzhixingjiangxintuocaichanjiaofuxintuogongsideguocheng。zaiguquan、fangdichanzichandejiaofuguochengzhong，shuiwubumenyibanjunhuirendingweiyingshuixingwei，zaishelijiazuxintuoshijiukenenghuichanshengzengzhishui、gerensuodeshuideng。yinci，jiazuxintuoshelihuanjiejiaoyixingguohuchanshengdeshuifu，huizaiyidingchengdushangyingxiangweituorenshelijiazuxintuodeyiyuan。

3. “sanleigudong”deshangshixianzhi

weituorenjiangchiyoudeqiyeguquanzhuangrujiazuxintuo，jikeyishixianqiyedewenjianchuancheng，yekeyibimianqiyeguquanfensandaozhikongzhiquanpangluo。raner，ruguoqiyeyoujiazuxintuozhijiechigu，kenenghuiduiqiyeweilaideiposhangshichanshengbuliyingxiang。

2020nian6yue，zhongguozhengjianhuixiudingle《shoufayewuruoganwentijieda》，qizhongyigewentihuidale“sanleigudong”（qiyuexingjijin、xintuojihua、zichanguanlijihuadeng）dexinxihechahepiluyaoqiu。zhengjianhuiyaoqiuniipogongsidekonggugudong、shijikongzhiren、diyidagudongbudewei“sanleigudong”。zaiqiyeshangshiguochengzhong，yibanjunhuiduiqi“sanleigudong”jiadahechalidu。

weituorenruyiyiqiyeguquanshelijiazuxintuo，weilaiqiyefazhanguochengzhongruxuqidongiposhangshi，kenenghuishejijiazuxintuochigujiegoudezaicidiaozheng。yinci，weituorenzaiyiguquanshelijiazuxintuoshi，rukaolvdaoqiyeweilaideiposhangshi，kenenghuiyouyidingdegulv。

03. 家族信托实务解决方案

weilejiejuejiazuxintuoshiwucaozuocunzaidetongdian，muqianshiwuzhongchangjiandezuofawei，yiyouxianhehuoqiyechiyouqiyeguquan。jutizuofaweiruxia：

weituorenshouxianjiangzijinjiaofuxintuogongsishelijiazuxintuo。jinerdajianyouxianhehuoqiye，putonghehuorengpyouweituorenweiren，jiazuxintuodezijinjiangrengouyouxianhehuoqiyedelpfene。youxianhehuoqiyezijinjiangshourangweituorenchiyoudejiazuqiyeguquan。zuizhongshixianyoujiazuxintuochiguyouxianhehuoqiye，jinerchiyoujiazuqiyeguquandejiegou。jiazuqiyejingyinghuodedelirun，jiangtongguoyouxianhehuoqiye、jiazuxintuo，zuizhongxiangshouyirenfenpei。

04. 家族信托前景可期

renminyinxingduixiaogangweiyuantiandedafu，weijiazuxintuoyewuweilaidefazhantigongleyinlingxingfangxiang。zaixintuocaichandengjiqudeyidingjinzhandeqingkuangxia，ruguonengzaishuishoufangmianhuodetedinganpai、iposhangshiqudetupo，weilaijiazuxintuojiangjuyouhenhaodefazhanqianjing。

1. xintuocaichandengjiyiyoujinzhan

zuoweixintuoxingyedejichusheshi，zhongguoxintuodengjiyouxianzerengongsikeyikaizhanxintuocaichandengjiyewu。2020nian10yue，zhongguoxindengqidongbudongchan、weishangshigongsiguquanliangleixintuocaichanxinxibaosonggongzuo。2021nian10yue，shanghaiyinbaojianju、shanghaishidifangjinrongjianguanjulianhefabu《guanyuzaishanghaikaizhanxintuocaichanchaxunshidiandeyijian》，xintuocaichanchaxunshidiangongzuozaishanghailvxianluodi，zhongguoxindengweizaihujinrongjigoutigongxintuocaichanchaxunfuwudezhize。

muqian，woguoxintuocaichandengjiyiqudejijijinzhan，weilaiyujikeyiquanmiandizhixing。yiguquan、budongchandengshelijiazuxintuo，jiangyoupeitaodexintuocaichandengjizhiduhecaozuofangshi，keyizaiyidingchengdushangjiejuejiazuxintuoyewukaizhandetongdianwenti。

2. huyuchutaijiazuxintuoshuishouxiangguanzhengce

ruguoweilaijiazuxintuokeyishixianxintuocaichandedengji，mouzhongchengdushangkeyiweichutaishuishouxiangguandezhengcetigongzhicheng。muqianshuiwujiguanjibenjunanjiaoyixingguohuchanshengyingshuixingweilaizhixingshuiwucaozuo。ruguokeyijiangshizhixingdezichanjiaoyi，yumingyishangdexintuocaichanjiaofuxiangqubie，jiangweichutaishuishouxiangguanzhengcesaoqingzhangai。

renminyinxingduixiaogangweiyuantiandedafuneirongtijileshuishouxiangguanzhengce，“keyiyanjiujiejianxiangguanguojijingyan，lizuwoguoshiji，zai《xintuofa》zhongduixintuoshuishouzhengcezuochuyuanzexinghuoshouquanxingdeguiding，yitishengxintuohuodongzhongshuifuzhengshoudekexuexingheguifanxing”。weilaizhenduijiazuxintuodeshuishouwenti，youwangchutaixiangyingdeguiding，yijiangdibubiyaodeshuifu，jiazuxintuozaicaifuchuanchengfangmiandeyoushijianggengjiachongfenditixian。

3. iposhangshiyiqudeyidingdetupo

ruguoqiyezaiiposhangshishicunzai“sanleigudong”wenti，weilebimianyoucichanshengdegudongshenfenbuming、duocengqiantaowenti，bufenqiyehuizaishangshiqianzhudongqingli“sanleigudong”。jinnianlaideqiyeiposhangshishijiancaozuozhong，ruguogudongjiegouzhongcunzaijiazuxintuo，yiyouqiyeshixianleiposhangshitupo。

liru，shengmeigufen、sanshengguojiandenghanyoujingwaijiazuxintuojiegoudeqiyeyijingshunlizhuceguohui；youliru，zhenhuaxincai、ruiangjiyindaiyoujingneijiazuxintuoguquanjiagoudeqiyeyechenggongshixianagushangshi。yinci，zaimanzujianguanbumenyaoqiudeqingkuangxia，cunzaijiazuxintuojiagoudeqiyeiposhangshijuyouyidingdekexingxing。weituorenyijiazuqiyeguquanshelijiazuxintuoshi，weilaiqiyeiposhangshiqianxuzaicichaichujiazuxintuochigujiagoudegulvyijingkeyiyousuoxiajiang，zheijiangyouzhuyuweilaijiazuxintuoyewudefazhan。

zongtilaikan，jiazuxintuoshixintuogongsibenyuanyewuzhiyi，zaigeleipeitaoxize、jianguanwenjianzhubuwanshandeqingkuangxia，jiazuxintuojiangyinglaizhongyaodefazhanjiyu，qianjingkeqi！