If a futures company changes its equity in any of the following circumstances, it shall be approved by the China Securities Regulatory Commission: (1) Change the controlling shareholder and the largest shareholder; (2) The shareholding ratio of a single shareholder or the total shareholding ratio of related shareholders is increased to more than 5%, and it involves overseas shareholders. In addition to the above provisions, if the shareholding ratio of individual shareholders or the total shareholding ratio of related shareholders of a futures company increases to more than 5%, it shall be approved by the dispatched office of the China Securities Regulatory Commission where the futures company is domiciled.

Examination of test sites: Chapter III Section 1 Change of Futures Company