"Use" in Britain is the predecessor of the trust system. The establishment of eustace system can be traced back to13rd century English feudal society. At that time, religious people used to donate their land to the church after death, which made the land of the church increase continuously. However, according to the laws of Britain at that time, the land of the church was exempt from service tax. The surge in church land means that the tax revenue of state services is gradually decreasing. This undoubtedly affected the interests of kings and feudal nobles. Then, at the beginning of the13rd century, King Henry III of England issued a confiscation decree, which stipulated that anyone who gave land to a church group had to get the king's permission, and anyone who sold or gave it without authorization would have his land confiscated. In response to this new regulation, religious people have changed their donation behavior. They gave the land to a third party in their will. But at the same time, it stipulates that the church has the actual right to use and benefit from the land, which is the "Yus system".
However, the modern trust system developed rapidly after it was introduced to the United States in the early19th century. The United States is the country with the most perfect trust system, the richest trust products and the largest total development.
China's trust system was first born in the early 20th century. However, at that time, China was a semi-colonial and semi-feudal society, and the economic foundation for the existence and development of the trust industry was extremely weak, so it was difficult for the trust industry to make a difference.
The real development of trust industry in China began with the reform and opening up, which is the product of the reform and opening up. 1978, at the beginning of the reform, many regions and departments had a great demand for construction funds. With the approval of the State Council 1979, China International Trust and Investment Company, the first trust institution in China, was born to meet the diversified financing methods and capital needs of the whole society. Its birth marks that the modern trust system in China has entered a new era, which has greatly promoted the development of trust industry in China.