Chapter I General Provisions Article 1 These Trial Measures are formulated in order to adapt to the development of China's socialist market economy, safeguard the economic rights and interests of the state and people, strengthen the management of foreign exchange futures business and maintain the stability of financial order. Article 2 The term "forex futures trading" as mentioned in these Measures refers to a foreign exchange transaction that promises to buy or sell a specific amount on a specific date in the future in the form of a forward contract. Including forward foreign exchange hedging and foreign exchange risk trading. Article 3 The institution handling forex futures trading must be a financial institution engaged in foreign exchange trading on behalf of clients approved by the State Administration of Foreign Exchange, or a foreign exchange futures brokerage company jointly established by financial institutions. Article 4 The targets of forex futures trading are wholly foreign-owned enterprises, domestic private enterprises and domestic residents. State-owned enterprises, collective enterprises and Sino-foreign joint ventures can only engage in "hedging transactions" for the purpose of hedging on the basis of a certain transaction in the spot market. Article 5 The sources of foreign exchange for handling forex futures trading are enterprises' own foreign exchange and residents' personal foreign exchange. Article 6 The currencies of forex futures trading are pound sterling, Deutsche Mark, Japanese yen and Swiss franc.

(Swiss francs), US dollars and Hong Kong dollars. Article 7 Financial institutions or foreign exchange futures (brokerage) companies engaged in foreign exchange futures business must abide by these Trial Measures. Article 8 The State Administration of Foreign Exchange is the supervisory organ of foreign exchange futures business, responsible for the examination and approval, termination, management, guidance, coordination, supervision and inspection of foreign exchange futures business. Chapter II Examination and Approval of forex futures trading Business Article 9 The operation and suspension of foreign exchange futures business by financial institutions or foreign exchange futures (brokerage) companies jointly established by financial institutions shall be examined and approved by the State Administration of Foreign Exchange. Article 10 An institution that meets the following conditions may apply for foreign exchange futures business.

1. A foreign exchange futures brokerage company approved by the State Administration of Foreign Exchange that can handle foreign exchange transactions on behalf of customers or jointly established by financial institutions;

2. Paid-in capital or working capital with not less than US$ 7 million or other equivalent currencies and foreign exchange cash;

3. At least one manager who has been engaged in foreign exchange trading for more than three years and three traders who have been engaged in foreign exchange trading for more than one year;

4. Having a place and equipment suitable for the operation of foreign exchange futures business;

5. Other conditions required by the State Administration of Foreign Exchange. Article 11 An institution applying for foreign exchange futures business shall submit the following documents and materials to the State Administration of Foreign Exchange.

1. Application for starting foreign exchange futures business;

2. Feasibility report on foreign exchange futures business;

III. Financial institutions that engage in this business shall provide articles of association, Financial Business License, Foreign Exchange Business License and their business licenses approved by the People's Bank of China;

4. Institutions jointly established by financial institutions shall provide relevant information of the parties to the joint venture, articles of association and business license of the joint venture;

(5) Capital verification report on paid-in foreign exchange cash or working capital;

6. List and resumes of managers and traders engaged in foreign exchange futures business;

7. Other documents and materials required by the State Administration of Foreign Exchange. Article 12 The State Administration of Foreign Exchange shall examine the above-mentioned materials provided by institutions applying for foreign exchange futures business, and if they meet the requirements, they shall first be approved to establish foreign exchange futures business. The preparation period is three to six months. Thirteenth in the preparatory period, the applicant must complete the following work:

First, sign a networking agreement with overseas brokers to clarify the responsibilities of both parties;

2. Providing credit information of overseas brokerage companies to the State Administration of Foreign Exchange;

Third, conduct strict job training for foreign exchange futures traders;

Four. Formulate and submit the following internal management regulations:

1. forex futures trading's internal management regulations for traders;

2. Relevant regulations on forex futures trading institutions' handling of forex futures trading business procedures;

3. Measures for foreign exchange management and financial management;

4. Samples of forex futures trading contracts signed with customers;

5. Other internal management systems required by the foreign exchange bureau.

After the above internal management regulations are examined and approved by the State Administration of Foreign Exchange, institutions engaged in foreign exchange futures business must strictly implement them.

After the above work is accepted by the State Administration of Foreign Exchange, it will go through the formal examination and approval procedures. Article 14 Financial institutions or foreign exchange futures (brokerage) companies must apply to the State Administration of Foreign Exchange for a license to operate foreign exchange futures business within 15 days after being approved by the State Administration of Foreign Exchange.

Financial institutions or foreign exchange futures (brokerage) companies can formally start business only after obtaining the foreign exchange futures business license. Chapter III Management of Foreign Exchange Futures Business Article 15 After signing a contract with an overseas brokerage company, an institution engaged in foreign exchange futures business shall submit a deposit of US$ 3 million or other equivalent foreign currency to an account designated by the State Administration of Foreign Exchange, and shall not use it without the approval of the State Administration of Foreign Exchange.