With the approval of the State Council, the Shanghai Gold Exchange was established by the People's Bank of China and registered with the State Administration for Industry and Commerce. It is the only state-level market in China that legally deals in gold. It is an enterprise legal person that organizes gold trading in accordance with the principles of openness, fairness, justice and good faith, not for profit, and implements self-discipline management. With the establishment of Shanghai Gold Exchange, China's gold market, money market, securities market and foreign exchange market have formed a complete financial market system in China, providing a spot trading platform for participants in China's gold market, connecting the supply and demand of gold production and consumption enterprises, and completing the smooth transition of gold from unified purchase and distribution to market trading.
Shanghai Futures Exchange (SHFE) is a legal person established in accordance with relevant laws and regulations. It performs the functions stipulated in relevant laws and regulations, implements self-discipline management according to its articles of association, and is subject to centralized and unified supervision and management by China Securities Regulatory Commission. At present, there are gold, silver, copper, aluminum, zinc, lead, rebar, wire rod, fuel oil and natural rubber asphalt 1 1 futures contracts listed and traded in Shanghai Futures Exchange. Shanghai Futures Exchange has 398 members, among which futures brokerage companies account for more than 80%, and more than 250 remote trading terminals have been opened all over the country.