Shanghai International Trust

The firm is majority-owned by the Shanghai Municipal Government through Pujiang Group, a large state-owned industrial and financial conglomerate. The Chairman is Pu Jian. The firm operates under the supervision of the National Financial Regulatory Administration (NFRA) in the trust company sector.

SITIC has historically been among China's larger trust companies by trust assets under administration, with approximately RMB 600 billion across several thousand trust plans at its 2019 peak. Trust assets span real estate financing, infrastructure lending, and channel business. The firm does not publicly disclose total assets under management or current deployment figures.

As a Shanghai government-backed trust company, SITIC's primary origination engine is Shanghai's municipal development ecosystem — urban renewal, state-owned enterprise restructuring, and regional infrastructure priorities. The firm also sources through regional development banks and institutional relationships tied to its role as a foreign capital introduction platform.

SITIC's core business is trust-based lending and structured financing for real estate and infrastructure, rather than public-market securities investment. The firm may hold minority equity positions in state-owned projects as part of restructurings, but it is not primarily a public-markets manager.

Like all major Chinese trust companies, SITIC holds legacy trust loans to real estate developers. While precise exposure is undisclosed, the firm's shift toward family trusts and active-management wealth products is widely seen as a regulatory-driven move to reduce reliance on developer-linked channel business.

Historically, SITIC was created as Shanghai's window for foreign capital introduction, but today its primary counterparties are domestic. Foreign institutional co-investment is possible through joint ventures or specific cross-border structures, but it is not the firm's main operating model.

SITIC is responding to the sector-wide regulatory push away from passive channel trust toward active management by building family trust and wealth advisory services. The firm is classified among the domestically significant trust companies expected to survive sector consolidation, but future AUM composition will depend on the pace of this pivot.