On October 24, 2012, the State Council promulgated the revised Regulations for the Administration of Futures Trading (the "Revised Regulations"), which will come into force on December 1, 2012. The Revised Regulations provide a definition of futures trading and that trading that is not conducted in a public and centralized manner or other manner that is approved by the futures regulatory authority of the State Council shall be deemed to be illegal. The Revised Regulations therefore deleted the reference to "futures trading in a disguised form".

In addition, the requirement that changes of the premise and responsible person of a futures company's branch shall be subject to the approval of the local office of the futures regulatory authority of the State Council is also eliminated in the Revised Regulations.

The full Chinese text of the Revised Regulations is available here.