The authors thank the risk management experts from the Shanghai Stock Exchange and the Haitong Securities Co., Ltd., for various help and guidance. The authors also thank Prof. Tze Leung Lai, Liu Hong, Amin Shams, Lin William Cong, and Li Guo for their substantive suggestions and comments. The authorship is arranged alphabetically. Kaixin Zheng is the first author and Jianqing Fan and Kaixin Zheng are the corresponding authors of the paper.