Xinhua Commodity Exchange Center was established by enterprises directly under Xinhua News Agency-Zhongjingshe Holdings Co., Ltd. and Hangzhou Investment Co., Ltd., with Si Xinliang, former member of the Standing Committee of Zhejiang Provincial Party Committee and Minister of Organization Department of Provincial Party Committee, as the supervisor of the trading center, and Ma, former executive deputy mayor of Hangzhou and chairman of Hangzhou Bank, as the independent director of the trading center.