Securities investor protection fund refers to the funds raised according to the Measures for the Administration of Securities Investor Protection Fund, which are used to prevent and deal with the risks of securities companies and protect the interests of securities investors. The main purpose of the protection fund is to pay creditors in accordance with the relevant national policies and regulations when the securities company is revoked, closed or bankrupt, or when the China Securities Regulatory Commission implements compulsory regulatory measures such as administrative takeover and custody operation.