1. Zhengzhou Commodity Exchange (hereinafter referred to as Zhengshang Institute) was established in June of 1990 and June of 10. It is the first pilot unit of futures market approved by the State Council, managed by China Securities Regulatory Commission and implemented membership system.

2. Shanghai Futures Exchange is a futures exchange approved by China Securities Regulatory Commission (hereinafter referred to as China Securities Regulatory Commission) and established according to national laws, regulations and rules, with membership system.