In October 1994, the State Council rectified over 50 futures exchanges down to 15 futures exchanges, delisted 20 futures contracts (leaving 35), began issuing licenses to futures commission merchants for the first time while lopping their number by over 70%, restricted trading on foreign futures exchanges, introduced new rules and regulations, and shifted the control of the exchanges from local governments to regulatory authorities. DCE's market share then ranked No. 9 in China with Dry kelp as a pilot product. DCE traded soybeans and corn back then.