An exchange, as its name implies, is a center dedicated to the trading of certain commodities, but it is not a distribution center.

For example, Shanghai Stock Exchange and Shenzhen Stock Exchange are responsible for securities trading.

Of course, there are some so-called local exchanges all over the country, but they are not recognized by the state.

Some towns in Jiangsu and Zhejiang also set up a so-called exchange, which is actually not an exchange itself, but a registered XX Exchange Company Limited.

Investors should try not to choose a local exchange to avoid being cheated.