Articles of Association of China Futures Industry Association Chapter I General Provisions Article 1 China Futures Industry Association (hereinafter referred to as the Association) is a national self-regulatory organization of futures industry established in accordance with the Regulations on the Administration of Registration of Social Organizations and the Regulations on the Administration of Futures Trading, and it is a non-profit social organization as a legal person. Article 2 The English name of the Association is China Futures Association, abbreviated as CFA. Article 3 The purpose of the Association is to conduct self-discipline management of the futures industry on the premise of centralized and unified supervision and management of the futures industry by the state. Give play to the role of the bridge and link between the government and the futures industry, serve members and safeguard their legitimate rights and interests; Adhere to the openness, fairness and justice of the futures market, maintain the legal competition order of the futures industry, protect the interests of investors, and promote the standardized development of the futures market. Article 4 The Association accepts the business guidance, supervision and management of the competent business unit China Securities Regulatory Commission (hereinafter referred to as China Securities Regulatory Commission), the organization registration authority and the Ministry of Civil Affairs of the People's Republic of China (hereinafter referred to as the Ministry of Civil Affairs). Article 5 domicile of the association: Beijing. Chapter II Responsibilities Article 6 Educate and organize members and futures practitioners to abide by futures laws, regulations and policies, formulate industry self-discipline rules, establish and improve the integrity evaluation system of futures industry, and conduct integrity supervision. Article 7 Be responsible for the identification, management and revocation of futures practitioners' qualifications, and organize futures practitioners' qualification examinations, futures company senior management qualification examinations and other professional qualification examinations authorized by administrative regulations and normative documents of China Securities Regulatory Commission. Article 8 Supervise and inspect the practice of members and futures practitioners, accept reports and complaints against members and futures practitioners, investigate and deal with them, and give disciplinary sanctions to members and futures practitioners who violate the articles of association and self-discipline rules; Reflect and report the practice status of members and futures practitioners to the China Securities Regulatory Commission, and provide opinions and suggestions for futures supervision. Article 9 Formulate the code of conduct and business norms of the futures industry, participate in the credit rating of the industry, and participate in the formulation of futures-related industries and technical standards. Article 10 Accepting customers' complaints about futures business and mediating disputes between members and between members and customers. Eleventh to serve members, safeguard the legitimate rights and interests of members in accordance with the law, and actively reflect the problems, suggestions and requirements of members in their business activities to the China Securities Regulatory Commission and relevant state departments. Article 12 Formulate and implement the talent development strategy for the futures industry, strengthen the construction of talent team in the futures industry, provide continuing education and business training for futures practitioners, and improve their business skills and professional ethics. Article 13 A special fund shall be established to provide financial support for talent training, investor education or other specific undertakings in the futures industry. Fourteenth responsible for the self-discipline organization and coordination of industry information security work, improve the level of industry information security and informatization. Article 15 Collect and sort out futures information, carry out business exchanges among members, promote members to improve corporate governance structure and internal control mechanism according to the requirements of modern financial enterprises, promote business innovation, and create greater market space and development opportunities for members. Article 16 Organize members to study the development of the futures industry, participate in the policy demonstration of the standardization and development of the futures industry, and make suggestions on relevant principles, policies, laws and regulations. Seventeenth to strengthen communication and contact with the news media, widely carry out futures market publicity and investor education, and create a good environment for industry development. Eighteenth commend and reward members and individuals who have made outstanding contributions in the industry, organize business competitions and cultural activities, strengthen communication and exchanges among members, and cultivate a healthy and progressive industry culture. Article 19 Carry out international exchanges and cooperation in futures industry, join international organizations on behalf of China futures industry, promote mutual recognition of relevant qualifications, and self-regulate foreign-related futures business. Twentieth laws, administrative regulations and other duties entrusted by the China Securities Regulatory Commission. Chapter III Membership Article 21 A member of an association shall meet the following conditions: (1) Upholding the articles of association; (2) It is registered in China; (3) Comply with laws and regulations, and engage in futures business or related activities with the approval or permission of China Securities Regulatory Commission; (4) Other conditions required by the Association. Article 22 The Association consists of members, special members and associate members. Members refer to futures companies established with the approval of China Securities Regulatory Commission and institutions engaged in futures business or related activities. Special members refer to futures exchanges established with the approval of China Securities Regulatory Commission. Associate members refer to local futures industry social organizations established with the approval of local civil affairs departments. Twenty-third futures exchanges, futures companies and other institutions engaged in futures business approved by the China Securities Regulatory Commission shall join the association; With the approval of the association, other legal institutions related to the futures market may join the association. Twenty-fourth members to join the registration system, members to apply for membership of the association, should be registered in accordance with the requirements of the association. Article 25 A member shall have a representative, who shall be the legal representative of the unit or its authorized senior management personnel to perform the duties of a member on behalf of the unit. Representatives of member replacement shall report to the Association in writing. Article 26 Rights of members: (1) Members and special members have the right to vote, to be elected and to vote; (two) have the right to ask the association to safeguard their legitimate rights and interests from infringement; (three) have the right to reflect opinions and suggestions to the relevant departments through the association; (four) the right to participate in the activities organized by the association and obtain the services of the association; (five) have the right to criticize, suggest and supervise the work of the association; (six) have the right to hearing and appeal against the disciplinary action given by the association; (seven) other rights added by the resolution of the general meeting of members. Article 27 Obligations of members: (1) Abide by the articles of association and other self-discipline rules; (2) Implementing the resolutions of the Association; (3) Paying membership fees according to regulations; (four) to support the work of the association and safeguard the interests of the industry; (five) to participate in various activities organized by the association; (six) to reflect the situation to the association in accordance with the provisions of the association, and provide data and other information related to futures business; (seven) accept the supervision and inspection of the association; (eight) to fulfill the obligations of the association announcement in accordance with the regulations; (nine) other obligations increased by the resolution of the general meeting of members. Article 28 Termination of membership: (1) When two or more member units merge, the membership will be inherited by the surviving unit or the newly established unit, and the original membership will be automatically terminated; (2) Being revoked of membership according to law; (3) Being punished for canceling the membership of the Association; (4) Members withdraw from the meeting. Chapter iv organization article 29 the general meeting of members is the highest authority of the association, and its duties are: (1) to formulate and amend the articles of association; (two) to consider the work report and financial report of the Council; (3) Electing and dismissing directors; (four) to formulate and revise the membership fee standards; (five) to decide on the merger, division and termination of the association; (six) other major matters submitted by the Council. Article 30 A general meeting of members can only be held when more than two-thirds of the members and special members' representatives are present, and its resolution can only take effect if it is approved by more than one-half of the representatives present. The formulation and revision of the articles of association, as well as the decision on the merger, division and termination of the association, can only take effect after being voted by more than two-thirds of the representatives present at the meeting. Article 31 The general meeting of members shall be organized by the Council and held once every four years. When the Council deems it necessary, or upon the joint proposal of more than one third of the members and special members, an interim general meeting of members shall be convened. Article 32 The board of directors is a standing body of the general assembly when it is not in session, and is responsible to the general assembly. Its duties are: (1) to prepare for the convening of the general meeting of members and implement the resolutions of the general meeting; (two) to report the work and financial situation to the general assembly; (3) Deciding to set up a professional committee and a special fund management committee; (4) Electing or dismissing the president and full-time vice president of the association according to the nomination of the China Securities Regulatory Commission; (five) according to the nomination of the president, elect or recall the part-time vice president; (6) To appoint or dismiss the Secretary-General upon the nomination of the President; (seven) to formulate and promulgate the association's self-discipline rules, industry standards and business norms; (eight) to decide on the annual work plan, budget and final accounts of the Association; (9) Deciding to absorb or recall members; (10) Commending, rewarding and punishing members; (eleven) to decide on other major issues. Article 33 The board of directors consists of member directors, special member directors and non-member directors. Member directors are nominated by the board of directors, or more than one-fifth of the members and special members jointly propose to be elected by the general meeting of members. Special members are ex-officio members of the association. Non-member directors shall be appointed by China Securities Regulatory Commission, and non-member directors shall not exceed a quarter of the total number of directors. Article 34 The term of office of a director is four years, and he may be re-elected. Article 35 A member director shall meet the following conditions: (1) Having broad representation; (2) Being able to normally exercise membership rights and fulfill membership obligations; (three) enthusiastic about the work of the association and actively participate in the activities of the association; (four) integrity, standardized management, strict self-discipline; (five) have a sense of social responsibility and industry mission, and have a certain influence in the industry; (6) Other conditions required by the general meeting of members. When the general meeting is not in session, if a member director does not meet the above conditions, the president shall request the Council to suspend his directorship. Article 36 A member's director representative shall meet the following conditions: (1) A member's managing director or chairman is the legal representative; (2) Having good futures professional knowledge and rich practical experience; (3) Being enthusiastic about the service industry and having great influence in futures or related business fields; (4) It has not been subject to administrative punishment by the China Securities Regulatory Commission or disciplinary punishment by the Association within three years; (5) Other conditions required by the general meeting of members. If the director's representative does not meet the above qualifications, the member directors shall replace the director's representative. Before the change, the Council suspended its membership. Where a member director changes the director's representative, the changed director's representative shall meet the conditions stipulated in this article and be reviewed and approved by the board of directors. Article 37 The Council shall meet at least once a year; An interim meeting of the board of directors shall be convened upon the joint proposal of more than one third of the directors, or when the President's Office deems it necessary. The board of directors shall be convened only when more than two thirds of the directors are present, and its resolutions shall take effect only when more than two thirds of the representatives present at the meeting vote. Article 38 The Association shall set up a professional committee and a special fund management committee, which shall be subject to examination and approval by the competent business unit, and shall be registered by the registration authority of the Association to carry out activities. Article 39 The Association shall have a president, a full-time vice-president, a part-time vice-president and a secretary-general. The secretary-general is full-time. The president and full-time vice president are nominated by China Securities Regulatory Commission and elected by the board of directors, while the part-time vice president is nominated by the president and elected by the board of directors. The Secretary-General is nominated by the Chairman and appointed by the Council. Article 40 The president, vice-president and secretary-general of the association shall meet the following conditions: (1) They have great influence and good reputation in the futures industry; (2) Having more than three years of futures-related work experience; (3) Having strong ability to organize and coordinate work; (four) love the work of the association; (5) Other conditions required by the general meeting of members. Article 41 The term of office of the President, Vice-President and Secretary-General of this Association is four years. Without the approval of the competent business unit and the registration authority, the president and vice president shall not be re-elected for more than two terms. Article 42 The president is the legal representative of the Association and exercises the following duties: (1) Presiding over the general meeting of members; (two) to convene and preside over the board meeting and the president's office meeting; (three) to organize the implementation of the rules, resolutions, work plans, budgets and final accounts adopted by the general meeting of members, the Council and the president's office meeting; (four) to check the implementation of the resolutions of the general assembly, the Council and the president's office meeting; (5) Nominating part-time vice presidents and secretaries-general; (six) to decide on the establishment plan of the daily office of the Association; (seven) to appoint the person in charge of the daily office of the Association and the full-time staff of the Association; (8) Other duties assigned by the Council. The vice president assists the dean in his work. If the president is unable to perform his duties for some reason, the full-time vice president designated by the president shall perform his duties on his behalf. The legal representative of the association shall not concurrently serve as the legal representative of other associations. Article 43 The Association shall set up a president's office meeting, which shall be composed of the president, full-time vice president, secretary-general, deputy secretary-general and other personnel designated by the president. Article 44 The office of the president shall exercise the following functions and powers: (1) To implement the resolutions of the general meeting of members and the Council; (2) Deciding to convene an interim meeting of the Council; (3) To decide on the daily work of the Association. Chapter V Management of Funds and Assets Article 45 The sources of funds of the Association are: (1) membership fees; (2) social donations; (3) government funding; (4) Income from activities or services provided within the approved business scope; (5) Other lawful income. Forty-sixth management measures for the collection of membership fees shall be formulated by the Council, adopted by the general meeting of members and reported to the competent business unit for the record. Article 47 The funds of the Association shall be used for the business scope and career development as stipulated in the articles of association, and shall not be distributed among members. Article 48 An association shall establish a strict financial management system to ensure the legality, truthfulness, accuracy and completeness of financial information. Article 49 An association shall be equipped with accountants with professional qualifications. Accounting personnel shall not concurrently serve as cashiers. Accountants must conduct accounting and exercise accounting supervision. When an accountant transfers his job or leaves his post, he must go through the handover procedures with the recipient. Article 50 The asset management of an association must implement the financial management system stipulated by the state and accept the supervision of the general meeting of members and the relevant departments of the state. If the source of assets belongs to the state appropriation or social donation or subsidy, it must accept the supervision of audit institutions and publish relevant information to the society in an appropriate way. Fifty-first associations must accept financial audit in accordance with regulations before changing their legal representatives. Article 52 No unit or individual may occupy, privately divide or misappropriate the assets of the Association. Article 53 The wages, insurance and welfare benefits of the full-time staff of the Association shall be implemented with reference to the relevant provisions of the state. Chapter VI Revision of the Articles of Association Article 54 The revision of the Articles of Association shall be approved by the board of directors and submitted to the general meeting of members for deliberation and adoption. Article 55 The revised articles of association shall be submitted to the competent business unit within 15 days after the adoption of the general meeting of members, and to the association registration authority within 30 days after the approval of the competent business unit, and shall take effect after the approval of the association registration authority. Chapter VII Termination Article 56 The termination of this Association must be approved by the general meeting of members and reported to the competent business unit for examination and approval. Article 57 Before the termination of the Association, a liquidation group shall be established under the guidance of the competent business unit to clean up the creditor's rights and debts and deal with the aftermath. During the liquidation period, no activities other than liquidation will be carried out. Article 58 An association shall be terminated after its registration is cancelled by the association registration authority. Article 59 The surplus property after the termination of the association shall be used for the development of undertakings related to the purpose of the association under the supervision of the competent business unit and the association registration authority in accordance with the relevant provisions of the state. Chapter VIII Supplementary Provisions Article 60 The figures such as "one-half" and "one-third" in the Articles of Association all include this number. Article 61 The right to interpret the Articles of Association belongs to the Council of the Association. Article 62 The Articles of Association was adopted by voting at the third general meeting of shareholders on September 20, 20 10. Article 63 The Articles of Association shall come into force as of the date of approval by the association registration administration organ.