FOTIC once again wins “Sincere Trust - Excellent Company” award

In recognition of its steady operations, outstanding risk control and sustainability, China Foreign Economy and Trade Trust Co., Ltd. (FOTIC) once again won the “Sincere Trust - Excellent Company” award at the 2017 China Trust Summit and the 10th Sincere Trust Award Ceremony held on May 23 in Shanghai. Meanwhile, “FOTIC Happiness Series Family Trust” won the “2016 Sincere Trust - Best Family Trust Product Award”. This is the 10th consecutive time that FOTIC has won “Sincere Trust” awards.

Since 2016, returning to the origin of trust and cultivating core competitiveness have gradually become most sought-after goals in the trust industry. The industry has transformed from traditional extensive growth to refined and intensive development. “In this scenario, FOTIC has persistently managed to seize opportunities, keep it positioned correctly, focus on its core business, enhance sustainable development capacity and achieve significant results in strategic transformation. In 2016, FOTIC achieved business revenues totaling RMB 2 billion and a before-tax profit of RMB 1.4 billion, with a year-end management trust scale of RMB 476 billion.”

In 2016, FOTIC continued to press ahead with strategic transformation and made innovation in consumer finance, overseas assets allocation, assets securitization, securities trust, family trust and other fields. In addition, it built core competitiveness under the ‘new normal’ and further showed its leading edge in industrial segments.

As one of the first trust companies to engage in consumer finance in China, FOTIC has aptly employed its advantages in trust system and operational management to offer terminal microfinance service providers with full-process services, including financing and operation. “We are committed to building a high-efficiency ‘platform + data’ operation system, besides maturing our risk control concept and accumulating large quantity of data,” said a FOTIC executive. He added that FOTIC has built a credit, mortgage product and Internet+ scenario product system, besides creating a diversified product layout and effectively enhancing the coverage and popularization of personal financial services.

“With the gradual growth of financing demands of high-net-worth individuals, FOTIC has actively developed family trust business and returned to the origin of the trust system. Since the introduction of the first family trust service among domestic private banks in May 2013, FOTIC has accomplished large-scale business duplication, maintained market lead and met customers’ comprehensive demands for risk isolation, wealth inheritance and steady appreciation of assets.”

In 2016, FOTIC also sped up its globalization efforts. On the basis of investing in Chinese USD bonds and preferred shares issued by Chinese financial institutions, “Global Assets Allocation III” introduced the quantization strategy for the first time. It linked major categories of assets in three industrial countries, accomplished the diversification and indirect hedging of risks, and helped domestic clients in hedging assets.

According to a senior official at FOTIC, while paying attention to self development and transformation and building leading business in industrial segments, the company has established a comprehensive risk management system, built three defense lines, kept to the bottom line of compliance, controlled substantial risks and accomplished the lifecycle risk management of projects, with focus on optimizing functions, bringing risk control forward, making up for deficiencies and improving capabilities. “In 2016, all trust projects of FOTIC were settled normally to strongly safeguard beneficiaries’ lawful rights and interests, and effectively maintain the stability of the order of the financial market,” he added.

2016 marked FOTIC’s 30th anniversary. “In the future, the company will continue to uphold the concept of ‘prospects from promises’, focus on customers, persistently build product and organizational power, push for business innovation and management reform, upgrade its business structure, enrich management connotations, pool resources and capabilities, accomplish effective, healthy and sustainable growth, and offer customers all-round financial solutions,” said a FOTIC official.

Hosted by Shanghai Securities News and cnstock.com successively for 10 times, “Sincere Trust” awards are one of the most influential selections in the industry. The “Outstanding Company Award” is the top “Sincere Trust” award. Candidate companies are evaluated according to their capital strength, profitability, anti-risk capability, social responsibility, social evaluation and investor relations. Winners must have favorable corporate images and wide social influence, besides being widely recognized as industrial leaders.