the Legal System Innovation Problems of Civil Trusts in China” (hereinafter referred to as the “Project”), which was led by Prof. Han Liang, Senior Advisor of King&Capital Law Firm, with the participation of Mr. Gao Huiyun, Senior Tax Law Advisor of King&Capital Law Firm, Dr. Park Gao Yuan, Senior Advisor of Financial Law, Mr. Teng Jie, Partner, Mr. Tang Jie, Senior Advisor, Mr. Wang Shuaifeng, Mr. Zhang Yanfei and other professionals, was approved and passed by the National Philosophy Social Science Working Office. The “Project” was approved by the National Office of Philosophy and Social Science Work, and a certificate of completion was issued with good results.

Highlights of the Subject

This topic utilizes the mature civil law theory and civil law system in the Civil Code to re-examine the Trust Law.

The project introduced the “principal's right reservation system”, “public trustee system” and “false trust system” of the common law system into the design of China's civil trust system, and made a significant impact on the trust and agency system in China, which is a difficult issue for academics. It defines the problem of difficult to distinguish between trust and agency in China's academic circles.

This project utilizes the “fiduciary theory” to reconstruct the rights and obligations of trustees and other legal relations of civil trusts, and makes up for the lack of other legal relations of trusts in the Trust Law.

This project has conducted innovative research on the civil trust establishment system, purpose trust system, registration system and civil trust tax system, and has formed a systematized supporting system to support the development of civil trust.

The research results of this project on the establishment of court supervision mechanism for civil trusts and the system of denying the independence of trust property will provide a feasible path for the judiciary to properly supervise and adjudicate trust disputes and to establish an appropriate trial supervision environment for civil trusts.

The research group has conducted in-depth discussions with the private banking departments of commercial banks, trust companies and insurance companies in China, and many of the views of the research group have been accepted by the executives and staff of these departments. The group has also designed family trusts and family governance structures for a number of private entrepreneurs, contributing to the sustainable development of these family enterprises.