Article 8 of the Measures for the Administration of the Qualifications of Directors, Supervisors and Senior Managers of Futures Companies stipulates that to apply for the qualifications of independent directors, the following conditions shall be met: (1) Having more than five years of experience in financial business such as futures and securities or legal and accounting business, or having senior titles in teaching and research in related disciplines; (2) Having a bachelor's degree or above and obtaining a bachelor's degree or above; (3) Having passed the qualification test recognized by the China Securities Regulatory Commission. (4) Having the time and energy necessary to perform their duties. Paragraph 4 of Article 33 stipulates that an independent director may concurrently serve as an independent director in at most two futures companies. Article 31 (b) of the Measures stipulates that a futures company shall report to the relevant agency of China Securities Regulatory Commission within five working days from the date of making a decision to dismiss directors, supervisors and senior managers.