(Yicai) Dec. 7 -- The Beijing Stock Exchange reportedly denied rumors claiming the bourse would tighten the review process of initial public offerings.

The review standards and regulatory requirements of the BSE have not changed, a manager at the exchange told Securities Times today.

Recent social media rumors claimed that the BSE had tightened the IPO review process, raised the standards for companies applying for IPOs, and rejected applications of some companies.

Seventy-one companies went public on the BSE so far this year. Since the China Securities Regulatory Commission launched new regulations to promote the stable development, reform, and innovation of the bourse on Sept. 1, five companies had their applications accepted, 29 submitted inquiries, three had their applications reviewed by the listing committee, and two completed the registration process.

The BSE will strengthen its support to companies using special and innovative technologies and those involved in new sectors to follow the implementation of the national strategic deployment to support high-level scientific and technological self-reliance and allow eligible enterprises to go public, the bourse previously said.

The Beijing Stock Exchange 50 Index climbed nearly 38 percent to 1,114.26 in the eight trading days between Nov. 17 and Nov. 27 but then declined to close at 980.11 yesterday.

Editor: Futura Costaglione