Xinhua Commodity Trading Center was jointly established by Zhongjingshe Holdings Co., Ltd. and Hangzhou Investment Co., Ltd., an enterprise directly under Xinhua News Agency. Si Xinliang, former member of the Standing Committee of Zhejiang Provincial Party Committee and Minister of Organization Department of the Provincial Party Committee, served as the supervisor of the trading center, and Ma, former executive deputy mayor of Hangzhou and chairman of Hangzhou Bank, served as the independent director of the trading center.