批发市场管理办法 Administration of Wholesale Markets Procedures

ending such expenses； and

　　11. other contents that shall be provided for in the articles of association or trading rules.

　　Article 19　The Ministry of Domestic Trade shall， within three months of receiving an application for establishing a central wholesale market and the aforesaid documents， examine and verify such application and documents， and make an official reply. Local wholesale markets shall be examined and approved by the departments in charge of commodity circulation in provinces， autonomous regions， centrally-governed municipalities and municipalities with an independent development plan or by the departments designated by the People's Government at provincial level， by reference to the methods of examining and approving central wholesale markets.

　　Article 20　Central wholesale markets established upon approval and local wholesale markets approved by， and filing a record with， the Ministry of Domestic Trade shall be exclusively announced to the public by the Ministry in a timely manner.

　　PART THREE　SUPERVISORY AND ADMINISTRATIVE ORGANISATION

　　Article 21　Management committees shall be set up for wholesale markets. The management committee of a central wholesale market shall comprise representatives and experts from the Ministry of Domestic Trade， superior department in charge of the work unit that wishes to establish a wholesale market and relevant department of the government of the place where such market is located. The management committee shall have one chairman and several vice-chairmen to be assigned respectively by the Ministry of Domestic Trade， People's Government at provincial level （including municipalities with an independent development plan） of the place where such committee is located and department in charge of production.

　　Article 22　Management committees shall be the supervisory and administrative organisations of wholesale markets， with the main duties of：

　　1. approving rules and regulations such as market management rules， articles of association， management rules for traders， trading rules， code of practice for personnel， etc.；

　　2. approving the type and met

hod of trading （excluding trading of medium- and long-term contracts by means of price competition）；

　　3. co-ordinating between departments and localities and handling relevant policies involving the preparation and operation of the wholesale market；

　　4. examining and approving reports of the Board of governors （directors）；

　　5. supervising and guiding activities of the wholesale market； and

　　6. examining and approving other important matters concerning the wholesale market.

　　Article 23　A management committee shall convene a meeting at least once a year. The meeting shall be attended by more than two-thirds of the members. Resolutions at the meeting shall be effective only after being passed by more than half of the members.

　　Article 24　The management committees of local wholesale markets shall be set up by reference to the method of setting up management committees for central wholesale markets.

　　PART FOUR　ORGANISATION OF AUTHORITY

　　Article 25　Boards of governors shall be set up for central wholesale markets established with funds from government departments. Boards of governors shall be the organisations of authority of such markets.

　　A Board of governors shall comprise an odd number of no less than five people， of whom the number of governors recommended by the government department that raised funds shall not be more than two-third of the governors， with representatives elected by traders acting as the remaining governors. The Board of governors shall elect one chairman and several vice-chairmen of the Board of governors with a term of two years who may succeed in elections. The chairman of the Board of governors shall be the legal person representative of the wholesale market.

　　1. the Board of governors shall be responsible to the government department that raised funds and to traders， and shall have the following functions and powers：

　　（1） formulating and amending relevant rules and regulations of the wholesale market；

　　（2） deciding the business objectives and investment plans；

　　（3） deciding the invitation of foreign investment and method of trading （excluding trading of medium- and long-term contracts by means of price competition） of the wholesale market；

　　（4） approving traders to do floor trading；

　　（5） approving traders of doing agency or wholesale business；

　　（6） deciding on merger， division， dissolution and liquidation of the wholesale market；

　　（7） deciding on the establishment of internal organisations of the wholesale market；

　　（8） hiring or dismissing senior managerial personnel； and

　　（9） working out annual budget and final accounting of the wholesale market.

　　2. a wholesale market shall have one general manager （or president） who shall be hired by the Board of governors， responsible to the Board of governors and have the following duties and powers：

　　（1） organising the implementation of business objectives and investment plans of the wholesale market；

　　（2） formulating plans for the establishment of internal management structures of the wholesale market；

　　（3） formulating a specific management system for the wholesale market；

　　（4） responsible for routine work of the wholesale market； and

　　（5） other duties and powers assigned by the articles of association and Board of governors of the wholesale market.

　　General managers （presidents） shall attend meetings of the Board of governors.

　　Article 26　Central wholesale markets shall set up functional departments for trading， information， clearing， settlement of transactions， market development， supervision etc.， in line with their needs.

　　Article 27　Boards of directors shall be set up for central wholesale markets established according to the Company Law. Boards of directors shall be the organisations of authority of wholesale ma

rkets. The creation， duties and powers of a Board of directors and other organisations shall be handled according to relevant provisions of the Company Law.

　　Article 28　Working organisations of local wholesale markets shall be set up by the local governments in the light of the actual local condition or may be set up by reference to the method of setting up organisations for central wholesale markets.

　　PART FIVE　TRADERS

　　Article 29　For the purposes of these Procedures， the term “traders” shall refer to wholesale enterprises， brokers and approved production enterprises and users that have the capacity to trade in commodities by wholesale and may enter wholesale markets to conduct trading.

　　Article 30　A trader must meet the following requirements：

　　1. possession of independent legal person status；

　　2. possession of the minimum registered capital necessary for， and business facilities appropriate to， the commencement of the wholesaling of specified commodities；

　　3. possession of a wholesale business permit for brokers；

　　4. possession of a good business reputation and no criminal record； and

　　5. other mandatory requirements specified in the articles of association of the wholesale market.

　　Article 31　Wholesale markets， brokers， major production enterprises and users that meet the above requirements may apply to the markets and may conduct floor trading only upon approval of the Board of governors （directors）。

　　Article 32　Traders shall equally enjoy the rights granted by the articles of association of wholesale markets and carry out the obligations specified in such articles of association.

　　Article 33　Traders must appoint dealers with a qualification certificate to conduct floor trading. The Ministry of Domestic Trade shall be responsible for the recognition of the qualifications of wholesale market professionals. Nationwide organisations of the industry or other relevant departments may be appointed to conduct training and examination of such dealers. A practising qualification certificate shall be issued to qualified dealers upon completion of training. Personnel who have not obtained a practising qualification certificate may not participate in trading.

　　Article 34　Dealers shall be fully responsible， as authorised， for the trading within the market on behalf of their traders. The contracts signed by dealers shall be legally binding. Dealers may only receive instructions from their work units but may not receive instructions from other traders or clients.

　　Article 35：Upon approval of the Board of governors （directors）， enterprise legal person traders shall have the right to accept an appointment from clients to conduct wholesale agency business.

　　Article 36　When an enterprise legal person trader changes his legal person representative， he shall file a record with the wholesale market within one month following the change. A record of the change of， or increase in the number of， dealers shall be filed with the wholesale market 15 days in advance. The original dealers may step down only after having completed all procedures.

　　PART SIX　TRADING

　　Article 37　Traders shall conduct trading on wholesale markets on the basis of the principles of honest， creditability， fairness and justice.

　　Article 38　In line with the features of commodities， the methods of trading shall be by means of agreement or consultation， price competition and auction.

　　Article 39　Trading on wholesale markets approved by the markets shall

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