Financial trusts reported decent........>

CHINA PRESS: Financial trusts reported decent growth in their assets in the

third quarter, with property market financing exceeding 10% of assets for the

first time in three years, the 21th Century Business Herald reported Friday.

Financial trusts' assets reached CNY24.41 trillion at the end of the third

quarter, CNY1.27 trillion more than at the end of second quarter, a 5.47%

quarterly growth rate, according to a report released by China Trustee

Association on Thursday. In the first nine months of the year, financial trusts'

investments in the property sector grew 1% to CNY2.07 trillion, or 10.01% of

their total investments at the end of September, the newspaper said. The

government campaign to tighten funding channels for property developers has

motivated property companies to turn to financial trusts for funding. The

newspaper said property companies issued only 38 bonds in the first half of this

year, accounting for less than 0.5% of their total financing. Development of the

rental housing market is providing new opportunities for financial trusts, with

their investments focused on real estate investment trusts (REITS) and rental

property asset securitization. (21th Century Business Herald)