Legal analysis: this is not true. There is no local futures trading platform, but there is only one formal futures trading platform in China. There are five major futures exchanges, namely: China Financial Futures Exchange, Shanghai Futures Exchange, Dalian Commodity Exchange, Zhengzhou Commodity Exchange and Shanghai International Energy Exchange Center.

Legal basis: People's Republic of China (PRC) Insurance Law.

Article 2 The term "insurance" as mentioned in this Law refers to the commercial insurance behavior in which the applicant pays the insurance premium to the insurer in accordance with the contract, and the insurer shall be liable for the property losses caused by the possible accidents agreed in the contract when the insured dies, is disabled, is sick or reaches the age and time limit agreed in the contract.

Article 4 Insurance activities must abide by laws and administrative regulations, respect social morality, and may not harm public interests.