1in March, 1999, according to the State Council's spirit of further comprehensively rectifying trust and investment companies, the People's Bank of China began to rectify trust and investment institutions again. After rectification, the trust and investment company shall operate and manage separately from the banking and securities industries, and shall not absorb deposits, engage in self-operated futures, issue loans with creditor's rights funds or make industrial investments. With the approval of the People's Bank of China, it may engage in some or all of the following businesses:

(a) entrusted to operate the fund trust business, that is, the trustor entrusts the trust and investment company to manage, use and dispose of the funds that he cannot or cannot personally manage and the funds restricted by the relevant laws and regulations of the state according to the agreed conditions and purposes;

(2) Entrustment of trust business of movable property, real estate and other property, that is, the trustor entrusts the trust and investment company to manage, use and dispose of its movable property, real estate, real estate, copyright, intellectual property and other property rights according to the agreed conditions and purposes;

(3) Being entrusted to engage in investment fund business permitted by relevant laws and regulations of the state, and engaging in investment fund business as a promoter of a fund management company;

(four) to engage in intermediary business such as enterprise asset restructuring, mergers and acquisitions, project financing, corporate wealth management, and financial consulting;

(five) entrusted to operate the underwriting business of government bonds and corporate bonds approved by the relevant departments of the State Council;

(six) the management, use and disposal of the agency property;

(7) Custody business;

(eight) credit witness, credit investigation and economic consulting business;

(nine) to provide security for others with their own property.

On April 28th, 2003, China Banking Regulatory Commission officially performed its duties. China Banking Regulatory Commission began to supervise the trust business.