Newly established trust property increase in China

BEIJING, March 9 (Xinhua) -- The trust property established by China's charitable trust reached 1.1 billion yuan (163.8 million U.S. dollars) in 2018, rising 84.4 percent year-on-year, according to a report by China Charity Alliance.

The charitable trust was filed to civil affairs authorities for registration in 17 provincial-level regions in 2018. The scale of trust property in Zhejiang Province reached 869 million yuan, ranking first among the provincial-level regions.

Guangdong and Beijing ranked second and third, respectively, with 111 million yuan and 32.7 million yuan.