On September 16, 2022, the China Securities Regulatory Commission issued the Administrative Measures for Futures Exchanges for public comment. In line with the current legal framework established in the Administrative Measures for Futures Exchanges (amended in 2021), the Draft Measures provide for certain detailed rules based on the Futures and Derivatives Law, which took effect on August 1, 2022, and aims to improve the relevant provisions in light of recent market developments and regulatory needs. Below are our observations on some of the key points.