Major Futures Firms Terminate Intermediary Partnerships; Active Brokers Drop to 36 as of Aug 4

According to the China Futures Association, five major futures companies including Yi De, Xinda, Zhongyuan, Hongta, and Guolian announced terminations of all intermediary partnerships as of August 4, 2026. The number of active intermediaries in the industry plummeted to 36 from over 40,000 at peak levels, signaling the near-completion of the industry's de-intermediation process. Customer service responsibilities previously handled by intermediaries are now transferred directly to company account managers and official customer service teams.
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