CSRC intensifies monitoring efforts over IPOs

As of Jan 24, 27 newly-listed companies had trimmed their profit forecasts, with five companies expecting profits to decrease by more than 50 percent.

China's stock market experienced major turbulence last year. The benchmark Shanghai Composite Index dipped to 1,959.77 points on December 3, the lowest reading since 2009.

The poor market has dented the confidence of smaller investors, who attributed their losses to excessive IPOs that allowed companies to maliciously take money from the market.

The investors have urged authorities to improve the way new stocks are issued and establish a delisting mechanism.

In response, the CSRC has slowed the pace of IPO reviews and rolled out a string of measures to strengthen supervision and crack down on illegal activity.

On January 8, it launched special checks for last year's financial statements issued by listed companies that are subject to IPO reviews in order to "reinforce the authenticity, accuracy, completeness and timeliness" of information disclosures and crack down on related violations.

The Shanghai Composite Index climbed 1.63 percent to 2,328.71 points during Monday's morning trading session.