Illegal;

Except for the following 8 exchanges in the country, which were established with the approval of the State Council, are formal, legal, and are regulated and monitored by the China Securities Regulatory Commission, the others are not established by the state and is illegal.

They are as follows:

1. Shanghai Stock Exchange;

2. Shenzhen Stock Exchange;

3. China Financial Futures Exchange;

4. Shanghai Futures Exchange;

5. Zhengzhou Commodity Exchange;

6. Dalian Commodity Exchange;

< p>7. National Equities Exchange and Quotations);

8. Shanghai Gold Exchange.