The China Securities Regulatory Commission vowed on Friday to maintain the normalized issuance of new stocks in a scientific, rational manner to further promote a coordinated, balanced development of primary and secondary stock markets.

"The commission and stock exchanges will continue to uphold stringent IPO standards, enhance the quality of listed companies from the start and perform counter-cyclical adjustments," said Yan Bojin, head of the CSRC's department of public offering supervision.

In 2023, Shanghai and Shenzhen stock exchanges saw 245 IPO approvals, with only 32 taking place during the period from September to December amid efforts to temporally slow down IPOs in response to market fluctuations, Yan said at a regular news conference hosted by the CSRC.