There is no level. China Futures Association was established on February 29th, 2000 in accordance with the Regulations on the Administration of Registration of Social Organizations, and performed its statutory duties in accordance with the People's Republic of China (PRC) Futures and Derivatives Law. It is a non-profit social organization legal person. The registered place and permanent establishment of the Association are located in Beijing. The Association accepts the business guidance, supervision and management of the China Securities Regulatory Commission and the Ministry of Civil Affairs of the People's Republic of China, and there is no hierarchy.