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论文编号：	15552
作者编号：	2320234105
上传时间：	2025/12/5 15:43:45
中文题目：	四川信托公司的风险治理优化研究
英文题目：	Research on the Optimization of Risk Management in Sichuan Trust Company
指导老师：	张国萍
中文关键字：	风险治理；四川信托；破产重整；风险防控
英文关键字：	Risk Governance; Sichuan Trust; Bankruptcy Reorganization; Risk Prevention
中文摘要：	2018 年 4 月，监管部门联合发布《关于规范金融机构资产管理业务的指导意见》（即“资管新规”），部分信托公司通过滚动发行、资金池操作掩盖项目风险的行为难以为继，叠加公司治理机制失效、违法违规经营、信用风险与流动性风险突出等因素，信托业集中出现风险暴露。2018年下半年起，安信信托、新时代信托、新华信托、华信信托、四川信托、中国民生信托、中融国际信托、中航信托先后暴露风险，2020年上半年起陆续被采取接管、托管等限制性强制措施；当前仍有部分信托公司面临风险暴露压力。信托公司作为资产管理行业的重要参与者，正处于转型发展与风险防控的关键时期。我国近年信托业风险事件频发，暴露出信托公司在风险治理中的短板，亟需加快完善。 四川信托重整案是近年资产负债规模最大的金融机构破产重整案、四川建省以来最大金融风险事件、全国首例信托公司破产重整成功案例，也是2023年 10 月中央金融工作会议后全国成功化解的首例重大金融风险案件。凭借创新的风险处置思路与重大实践突破意义，该案从 161个申报案例中脱颖而出，获评《政法论坛》编辑部、《法律适用》编辑部等共同发起的2024年度“全国破产经典案例”第一名，对信托业风险治理研究具有重要标志性意义与研究价值。 本文采用案例分析法、文献综述法，深入研究四川信托风险成因，总结、归纳并分析其风险治理过程，重点剖析风险产生根源与治理中的先进经验。从业务流程维度，研究发现信托公司风险治理需贯穿“风险识别、评估、监测、应对”全链条，从竞争环境维度指出，在“去通道、强合规”的行业转型背景下，风险治理能力成为信托公司核心竞争力。上述研究结论的实践价值体现在三方面，对已暴露风险的信托公司，可借鉴庭外个人买断、庭内破产重整模式等，平衡投资者合法利益与公司重生需求；对正常经营的信托公司，可参考三道防线内控体系、固有业务低风险配置等做法，提前完善风险治理架构；对监管部门，可依托司法集中管辖、重大违法股东黑名单等机制，提升金融风险处置效率，最终推动信托业从粗放扩张向高质量发展转型，为完善中国信托业风险治理研究提供实证支撑。
英文摘要：	In April 2018, the regulatory authorities jointly issued the "Guiding Opinions on Regulating the Asset Management Business of Financial Institutions" (also known as the "Asset Management Regulations"). The behavior of some trust companies covering up project risks through rolling issuance and fund pool operations is no longer sustainable. Coupled with factors such as the failure of corporate governance mechanisms, illegal and non-compliant operations, and prominent credit and liquidity risks, The trust industry has witnessed a concentrated exposure to risks. Since the second half of 2018, Anxin Trust, New Era Trust, Xinhua Trust, Huaxin Trust, Sichuan Trust, China Minsheng Trust, Zhongrong International Trust and AVIC Trust have successively exposed risks. From the first half of 2020, they have been successively subject to restrictive compulsory measures such as takeover and trusteeship. At present, some trust companies are still under pressure from risk exposure.Trust companies, as important participants in the asset management industry, are currently at a critical period of transformation and development as well as risk prevention and control. In recent years, risk incidents have occurred frequently in China's trust industry, exposing the shortcomings of trust companies in risk governance. Trust companies are relatively lagging behind in the research and construction of a comprehensive risk management system, and there is an urgent need to accelerate its improvement. The reorganization case of Sichuan Trust is the largest bankruptcy reorganization case of a financial institution in terms of asset and liability scale in recent years, the largest financial risk event since the establishment of Sichuan Province, the first successful bankruptcy reorganization case of a trust company in the country, and also the first major financial risk case successfully resolved in the country after the Central Financial Work Conference in October 2023. With its innovative risk disposal approach and significant practical breakthrough significance, this case stood out among 161 submitted cases and was awarded the first place in the "National Classic Bankruptcy Case of 2024" jointly initiated by the editorial Department of "Political and Legal Forum", the editorial department of "Legal Application", and others. It holds important landmark significance and major research value for the risk governance research of the trust industry. This thesis adopts the case analysis method and literature review method to deeply study the causes of risks in Sichuan Trust, summarize, generalize and analyze its risk governance process, and focus on dissecting the root causes of risks and advanced experiences in governance. From the perspective of business processes, the research finds that the risk governance of trust companies needs to run through the entire chain of "risk identification, assessment, monitoring and response". From the perspective of the competitive environment, in the context of the transformation of the trust industry to remove channels and strengthen compliance, risk governance capabilities have become the core competitiveness of trust companies. The practical value of the above research conclusions is reflected in three aspects: For trust companies that have exposed risks, the out-of-court individual buyout and in-court bankruptcy reorganization models can be drawn upon to balance the legitimate interests of investors and the company's need for rebirth. For normally operating trust companies, they can refer to practices such as the three-line defense internal control system and low-risk allocation of inherent businesses to improve the risk governance structure in advance. For regulatory authorities, they can rely on mechanisms such as judicial centralized jurisdiction and blacklists of major shareholders with major violations to enhance the efficiency of financial risk disposal, ultimately promoting the transformation of the trust industry from extensive expansion to high-quality development, and providing empirical support for improving the research on risk governance in China's trust industry.
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