The branches and foreign exchange administrative departments of the State Administration of Foreign Exchange (SAFE) in all provinces, autonomous regions, and municipalities directly under the Central Government; the branches in Shenzhen, Dalian, Qingdao, Xiamen, and Ningbo; and the head offices of designated Chinese-funded foreign exchange banks:

To regulate foreign exchange administrationfor overseas traders and brokers engaging in futures trading under specific domestic categories, we hereby release this circular, in accordance with the Regulations of the People’s Republic of China on Foreign Exchange Administration, and the Interim Management Measures for Overseas Traders and Brokers Engaging in Futures Tradingunder Specific Domestic Categories (China Securities Regulatory Commission Order No.116, “Interim Measures”) and relevant provisions.

I.For the purpose of this Circular, an overseas trader refers to a legal entity or other business organization duly established overseas (including Hong Kong, Macau and Taiwan, the same below), or a natural person with lawful foreign citizenship, who conducts futures trading and is responsible for the trading results. An overseas brokerrefers to a financial institution duly incorporated overseas and certified or licensed by the local futures regulatory authority to accept funds and trading orders from a trader and execute futures orders in its own name for the trader. A member refers to a domestic member of a futures exchange.

The specific domestic categorieshereunder are determined and published by the China Securities Regulatory Commission (CSRC).

II. The State Administration of Foreign Exchange (SAFE) and its branches and sub-branches (foreign exchange authorities) are responsible for the supervision, administration and inspection of the opening and use of foreign exchange accounts, receipts and payments as well as remittance and exchange of funds involved in the futures trading under specific domestic categoriesconducted by overseas traders, overseas brokers, domestic futures exchanges and members.

III. Overseas traders and overseas brokers may remit funds inward in RMB or foreign exchange for futures trading under specificdomestic categories.

IV. When providingservices such as trading and settlement to members, overseas traders or overseas brokers as floor traders for futures trading under specific domestic categories, a futures exchange may open a corresponding special foreign exchange settlement account with a futures margin depositary bank (depositary bank) for the receipts and payments, remittances and exchanges as well as transfer of funds involved in such trading (see Appendix 1 for the nature, name and scope of receipts and payments of the account).

V. When providing services such as trading and settlement to overseas traders or overseas brokers for futures trading under specific domestic categories, a futures company or other organization withsettlementqualification may open a corresponding special foreign exchange margin account with a depositary bank for the receipts and payments, remittances and exchanges as well as transfer of funds involved in such trading (see Appendix 1 for the nature, name and scope of receipts and payments of the account).

VI. An overseas trader or overseas broker may open a special foreign exchange accountfor futures settlement with a depositary bank for the receipts and payments, remittances and exchanges as well as transfer of funds involved infutures trading under specific domestic categories (see Appendix 1 for the nature, name and scope of receipts and payments of the account).

The funds deposited in the special foreign exchange account for futures settlement by an overseas trader or broker shall not be included in the quota for short-term external debt of the depositary bank, while the depositary bank shall duly report the relevant data to aforeign exchange authority, and the interest on such funds shall be calculated at the demand deposit interest rate.Such funds shall be managed under special accounts, and shall not be used for any other purposes.

VII. A depositary bank shall process the settlement and purchases of foreign exchange based on the actual results of futures trading under specific domestic categories by an overseas trader, an overseas broker or a member. The foreign exchange settlement and purchase only involves settlement of profit or loss from futures trading, payment of service fees, delivery of payment for goods, as well as call for payment of gaps in settlement currency, which are associated with futures trading under specific domestic categories. After foreign exchange settlement or purchases, the relevant funds shall be directly paid to the payee or transferred to the corresponding account in accordance with the institutional requirements on futures trading and settlement.

VIII. Futures exchanges, members and domestic banks shall report the balance of payments statistics in accordance with the Measures for Reporting of Balance of PaymentsStatistics and relevant provisions, and the data on foreign-related receipts and payments via banks as well as the data on external financial assets and liabilities and trading statistics.

A depositary bank shall report the data on the account, foreign exchange settlement and sales, domestic transfer of funds as well as external debtunder the accountin accordance with relevant requirements of the SAFE.

IX. In case of physical delivery for futures trading under specific domestic categories, a futures exchange or a member that directly provides settlement services for payment delivery to an overseas trader or an overseas broker shall, in accordance with the provisions relevant to foreign exchange administration for trade in goods and after registration in the “List of Enterprises with Foreign Exchange Receipts and Payments under Trade”, go throughthe procedures for foreign exchange receipts and payments under trade, report through banks the data on the foreign exchange receipts and payments under trade, and keep the delivery and settlement sheets and relevant transaction documents for 5 years for future reference.

X. A futures exchange shall report to aforeign exchange authority on a monthly basis the basic information on futures trading under specific domestic categories by overseas traders and overseas brokers, as well as the data on the inflows and outflows of funds, foreign exchange settlement and purchases and physical delivery (see the format in Appendix 2).

XI. In case of violations of this Circular and other provisions relevant to foreign exchange administration by an overseas trader, an overseas broker, a futures exchange, a member and a depositary bank infutures trading under specific domestic categories, foreign exchange authorities shall impose penalties on themin accordance with the Regulations of the People’s Republic of China on Foreign Exchange Administration.

XII. This Circular shall be interpreted by the State Administration of Foreign Exchange.

XIII. This Circular shall take effect as of August 1, 2015. Upon receipt of this Circular, the SAFE branches shall forward it to central sub-branches, sub-branches, urban commercial banks, and foreign banks under their jurisdiction as early as possible, while the designated Chinese-funded foreign exchange banks shall, upon receipt of this Circular, forward it to their respective branches and sub-branches under their jurisdiction as early as possible. Please contact the Capital Account Administration Department of the SAFE if any difficulties are encountered in implementing this Circular.

Appendix: 1. Scope of Receipts and Payments under Foreign Exchange Accounts for Futures Trading under Specific Domestic Categories by Overseas Traders and Brokers

2. Monthly Statements on Futures Trading under Specific Domestic Categories by Overseas Traders and Overseas Brokers

State Administration of Foreign Exchange

July 29, 2015