Research on Application of Big Data Technology Based on SVAR Model in the Development of Trust Industry

Abstract

Abstract: The trust industry, as an important part of China's financial system, has developed into the vanguard of the financial investment industry. Trust assets have grown from 100 billion yuan in 2000 to 26.25 trillion yuan at the peak in 2017, with an amazing development speed. Moreover, the business model of trust industry has long changed from single deposit and loan business to diversified development, which not only makes up for the real economy field that cannot be covered by traditional financial institutions, but has now developed new phased models in line with China's national conditions, such as family trust and real estate trust and investment fund. In this paper, firstly, the relationship between the development of trust industry and China's GDP growth is analyzed. Then, the promotion effect of trusts on economic growth in China was demonstrated by establishing a vector autoregressive model of SVAR structure using trust size and macroeconomic data by means of Cholesky decomposition with setting condition constraints, pulse response function and variance decomposition. Finally, the conclusion was drawn that under the background of national control of non-standard assets and Sino-US trade war, the trust institution's rapid transformation to meet the market's innovation demand is not only a historic opportunity, but also the key to build its own core competitiveness.