FOTIC wins “Outstanding Family Trust Product Award”

      In recognition of its capacity for product innovation in the family trust sector, China Foreign Economy and Trade Trust Co., Ltd. (FOTIC) won the “Outstanding Family Trust Product Award of the Year” at the JRJ-hosted “Navigation China – 6th Financial Industry Annual Award Ceremony” held in Nanjing on February 2.

      Besides being one of the first players in the family trust sector, FOTIC is the first trust company to establish a special team for systematically studying, developing and managing family trust business in the industry. Over the years, the company has positioned family trust as its strategic business and promoted the localized practice of family trust.

      After successfully developing China’s first private banking family trust in 2013, the company’s family wealth management team has been constantly implementing the concept of “product innovation”. It provides multi-purpose and customized trust services, including protection, inheritance, education, charity and pension for customers’ property, including cash, financial products, insurance benefits and listed company equity.

      In 2017, FOTIC launched the first mixed property charity trust in China and embedded charity elements in family trust, thereby supporting customers in inheriting “family spirit” and repaying the society through wealth inheritance. In the same year, the company successfully launched the first immovable inheritance family trust in China.

      Over the years, with a precise and responsible attitude in the market, FOTIC has implemented the civil trust concept of wealth protection and inheritance, renovated its product structure and undertaken its responsibilities as a trustee. While constantly improving the product power of family trust, the company has constantly strengthened organization capacity management and construction, besides improving its capacity for operational support. In 2016, the company launched its independently developed family trust business operation system, started to implement family trust valuation service, and took the lead in the industry to establish an integrated operation system for the long-term steady development of the family trust sector

      Of the family trust service contracts signed by FOTIC, most remain effective for 20 to 50 years and some even for 100 years. Through persistent innovation and a scientific management system, FOTIC has fully met family trust customers’ needs for large-amount, integrated, combined and top-level design services. The number of its signed contracts and the scale of actually delivered cash have been growing every year. In addition, it has earned wide recognition from customers, experts, professional authorities and partners, and won a number of awards.

      In the future, the company will capitalize on its institutional advantage of trust and continue to explore extended products, including non-listed enterprise equity inheritance trust. It will offer high-net-worth customers more exclusive, systematic and comprehensive family wealth management solutions.