From the second half of 2011, note trust products became popular in the market, new issuance quantities constantly set new records. In early 2012, the regulatory authorities required commercial banks to "comprehensively control off-balance-sheet-risk", the issuance of new notes trust products was suspended by the regulators. Under such circumstances, in face of tightening monetary policy, banks began to take initiatives to seek more "off-balance-sheet" approaches to deal with the credit limit tension. In March 2012, Chang'an Trust fist issued domestic letters of credit trust products, which opened a new path for alternative notes trust products. However, what are the characteristics of domestic credit trust products? Can it become the mainstream product for trust-bank-cooperation? Nowadays, with fierce competition in trust industry, trust product innovation is a new trend, and it is necessary to provide timely analysis of these emerging trust products, so as to provide timely and effective technical support for trust business development. This article comprehensively analyzes the characteristics of domestic letters of credit, and studies domestic letters of credit trust products through a comparative analysis. <<