1, a large circuit breaker, also known as the fuse mechanism, originated in the United States, and its original idea was put forward in the review report put forward by Brady after the disaster of 1987+00 in June. The stock market fuse mechanism is formulated by the China Securities Regulatory Commission.

2.2065438+On September 6th, 2005, the head of China Securities Regulatory Commission made a speech in the form of answering a question from Xinhua News Agency, saying that we should organically combine stabilizing the market, repairing the market and building the market. The person in charge said that the current stock market bubble and risk have been released to a considerable extent. In the future, when the market fluctuates violently and abnormally, which may lead to systemic risks, securities companies will continue to play a role in maintaining stability in various forms.

3. The person in charge of the CSRC said that the rise and fall of the stock market has its own operating rules. Under normal circumstances, the government does not interfere. However, when the stock market fluctuates violently and abnormally, which may lead to systemic risks, the government will never sit idly by and take timely and decisive measures to stabilize the stock market.

4.2065438+On September 7, 2005, Shanghai Stock Exchange, Shenzhen Stock Exchange and China Financial Futures Exchange issued a notice for soliciting opinions, intending to introduce the index fuse mechanism on the premise of retaining the existing stock price fluctuation system.

5.2065438+On February 4th, 2005, under the unification of relevant departments, the CSRC officially issued relevant regulations on index fuse, which will be officially implemented on June 4th, 2065438+2006 10.