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Former Top Securities Regulator Urges Revisions to Family Trust Law By the end of June 2020, 9,049 family trusts were set up in China holding property valued at 186 billion yuan ($29 billion), data shows. Xiao Gang, former head of China’s securities regulatory commission, plans to submit a proposal to the annual “Two Sessions” to improve the trust system and promote the development of family trusts, he said Thursday. Family trusts are among the most important institutional arrangements for the protection and inheritance of private enterprise wealth, Xiao said. The former chairman of China Securities Regulatory Commission is a member of the National Committee of the Chinese People’s Political Consultative Conference (CPPCC), which is meeting in parallel with the National People’s Congress in China’s annual top political gatherings. ....