Article 16 To apply for the establishment of a futures company, it shall comply with the provisions of the Company Law of People's Republic of China (PRC) and meet the following conditions:

(a) the minimum registered capital is 30 million yuan;

(2) Directors, supervisors and senior managers are qualified to hold posts, and employees are qualified to engage in futures business;

(3) Having articles of association that comply with the provisions of laws and administrative regulations;

(4) The major shareholders and actual controllers continue to make profits, have a good reputation, and have no record of major violations of laws and regulations;

(5) Having qualified business premises and business facilities;

(6) Having a sound risk management and internal control system;

(seven) other conditions stipulated by the the State Council futures regulatory agency.

The State Council futures regulatory agency may raise the minimum registered capital according to the principle of prudent supervision and the risk degree of various businesses. Registered capital shall be paid-in capital. Shareholders shall make capital contribution in monetary or non-monetary property necessary for the operation of the futures company, and the proportion of monetary contribution shall not be less than 85%.