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2019-12 /03

China's trust funds seek new development modes

XINHUA/CHINA DAILY | Updated: 2019-12-03 00:00

BEIJING-The steel sector might not be a good investment target at first glance given its price swings and the campaign to cut overcapacity, but some financial institutions are hoping to strike gold in the middle of the market's upgrading.

Bohai International Trust Co Ltd has launched a trust product in partnership with Zhaogang.com, a leading digital B2B platform in China that brings together steel producers and consumers. They will offer loans to steel purchasers to encourage efficient deals on the platform.

Over 9,000 firms along the steel industrial chain have benefited from the trust product, which leverages Zhaogang.com's matchmaking services to enhance the steel sector's efficiency.

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