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What is the nature of tianjin precious metal exchange's subordinate member units?
It is a member unit. Tianjiao Exchange and Kunjiao Exchange are two regular precious metal exchanges in China. The recruitment of member units of Tianjiao Exchange has been completed.

Tianjin precious metal exchange is a company-based exchange registered in Tianjin Binhai New Area, which was jointly established by Tianjin Property Rights Exchange Center and Tianjin Olive International Trading Co., Ltd. with the approval of the ruling party in Tianjin. It is supervised by the Financial Services Office of Tianjin People's ruling party. It is the only over-the-counter trading mechanism in China. As it is a precious metal trading institution approved by the State Council and the National Development and Reform Commission.