hztrustXXXX zoominfoXXXX/c/hangzhou-industrial--commercial-trust-co-ltd/430077414 Hangzhou Industrial & Commercial Trust (hztrustXXXX) is a state-owned Chinese financial firm founded in 1986, headquartered in Hangzhou with offices in Shanghai and Beijing. It operates as a joint venture with Morgan Stanley, which holds a 19.9% equity stake (the legal maximum for foreign banks in China). The firm specializes in alternative asset management — private equity, separate accounts, and joint ventures — and as of 2014 managed over $4.8 billion AUM. Services include equity investment, M&A, asset restructuring, corporate finance, and financial advisory