Data from - Exploring the Trust Paradox: Adoption Dynamics of Family Trusts Among Chinese High-Net-Worth Individuals

This research explores the adoption dynamics of family trusts among Chinese High-Net-Worth Individuals (HNWIs), focusing on the key barriers and facilitating factors. Despite the formal recognition of family trusts in China under its Trust Law (2001), the adoption rate remains low. This paradox is addressed through a comparative study between Chinese HNWIs in China and those in Canada, examining the impact of legal, regulatory, and cultural factors on adoption rates. By employing a two-stage quantitative approach, the research develops a Trust Adoption Model that incorporates factors like perceived benefits, professional trust, complexity, and regulatory transparency. The study identifies significant barriers in mainland China, including skepticism toward professional trust services and regulatory uncertainty, which contrasts with the more mature Canadian trust market. Key findings reveal that professional trust and perceived benefits are critical adoption drivers, while socio-cultural resistance and complexity may hinder full adoption. The research also emphasizes the importance of regulatory clarity and product availability to foster trust adoption. This study contributes both theoretically by extending innovation adoption models and practically by offering actionable insights for wealth management professionals to increase trust adoption among Chinese HNWIs.