The China Securities Regulatory Commission (CSRC) said it was untrue for the government to promulgate regulations on initial public offering (IPO) soon, the Shanghai Securities News reported on Friday.

    The rumor that the Chinese stock market would soon restart IPO process and relevant regulations would soon be promulgated has caused Thursday's Shanghai and Shenzhen composite index to drop 1.6 percent and 2.19 percent, according to the newspaper.

    The CSRC has not solicited opinions from the public on the IPO regulation draft, and it will start such process when the stock market becomes more mature, it reported.

    So as to rescue the longlasting bearish stock market in China, the CSRC has stopped the IPO process for a long time to make the number of listing companies stabilized.

Source: Xinhua