On July 27, 2022, Cai Gao, Chief Economist of CITA, and his delegation visited China International Economic and Trade Arbitration Commission (CIETAC) to conduct a special research on the topic of "Research on the Revised Content of the Trust Law" organized by CITA. Thematic research. Mr. Wang Chengjie, Deputy Director and Secretary General of CIETAC, Mr. Xie Changqing, Vice President of the Arbitration Court, and heads of relevant departments received the research team. The two sides had an in-depth discussion on the revision of the Trust Law and related issues on arbitration of trust disputes.

(Scene of Research Symposium)

Secretary General Wang Chengjie pointed out that as the earliest foreign-related arbitration institution established in China, TDC has rich practical experience in the field of trust dispute resolution. Only since 2019, MIDA has accepted more than 1,500 cases of trust and trust-related asset management disputes, with a subject matter amount of nearly RMB 100 billion. TDC has actively explored and accumulated rich adjudication experience in a large number of trust cases in the past, which will undoubtedly provide an important reference for the revision of the Trust Law.

(Mr. Wang Chengjie, Secretary General of the Research Group, made a special presentation on the situation of TDC and cases involving trust disputes)

The research group highly recognized the profound accumulation of MID in the field of trust, and MID's rich experience in adjudicating cases in the field of trust would provide an important reference for decision-making in clarifying the controversial issues in the trust system. Mr. Cai also briefly introduced the background of the "Study on the Revision of the Trust Law" and the special considerations for the visit. He said that the results of the "Study on the Revised Content of the Trust Law" will form an important basis for the draft revision of the Trust Law, and will lay the foundation for the next revision of the Trust Law.

(Prof. Cai Zhaoyuan introduces the background of the topic and the purpose of the research)

This symposium discussed the key issues of arbitration involving trust disputes in terms of both arbitration procedures and entities. Mr. Park Gao Yuan of Beijing King&Capital (Tianjin) Law Firm, the leading unit of the project, introduced the specifics of the project and discussed and exchanged views with TID experts on the attributes of trust beneficiary right, the attributes of asset management business, the feasibility of the investor/principal in the asset management business to directly initiate arbitration to the third party bypassing the trustee, and the transfer of the ownership of the trust property. Discussions and exchanges were held with the experts and colleagues of M arbitration.

The relevant business leaders of MIDA introduced the experience of MIDA in handling trust cases in terms of case examination and adjudication standards, and answered the questions of the panelists. The three participating arbitrators shared their views on the controversial issues of trust cases from the perspective of arbitral tribunal adjudication.

Members of the research team include Mr. Park Gao Yuan from Beijing King&Capital (Tianjin) Law Firm, Mr. Xiao Shuwei, Senior Partner from Beijing King&Capital Law Firm, Mr. Tang Jie, Doctoral Candidate from the Law School of Nankai University, Mr. Deng Liyin, Research Supervisor from the Department of Trusts and Securities Trusts of Everbright Xinglong Trust Company Limited, Mr. Deng Ting, Deputy General Manager from the Department of Compliance and Legal Affairs of Chang'an International Trust Co. Zhang Xiaotao, Xu Xiang, Senior Senior Manager of Compliance and Legal Department of China Foreign Economic and Trade Trust Co., Ltd, Liang Guangyong, Partner of Jintiancheng Law Firm, Guo Ran, Partner of Beijing Haotian Law Firm, discussed key issues such as the nature of the trust beneficiary right, the arbitrability of disputes within the trust, the standard of the obligations of the trustee and exemption of the obligations of the trustee in the equity trust, and whether the arbitration clause can be applied directly by the supervisors and the beneficiaries, and Preliminary proposals were made for the revision and improvement of the Trust Law. It was agreed that arbitration has the advantages of professionalism, high efficiency and confidentiality in resolving disputes involving trust asset management, and it is expected that more disputes involving trust asset management will be resolved through arbitration in the future through the design of the system, and it is also hoped that the practice of the rule of law in arbitration will promote the continuous improvement of the various systems in the trust industry.