China Securities Regulatory Commission (CSRC) on Monday denied a market rumor that it is considering pulling stabilization funding used to stem heavy sell-offs after the sharp market decline.

Spokeman says in an Q&A that the CSRC believes the media is irresponsible for not verifying information with supervisory body that have significant impact on the market.

This snafu resulted from the message of Caijing Magzine in the morning of July 20. 2015, which reported that three exit options of rescue funds in the stock market were currently being discussed by the CSRC.

This news sharply arouse fluctuation in the stock market. After opened higher in early trading, the benchmark indexs rapidly declined to the news. But the market rebounded after the CSRC's statement, with Shanghai Composite Index closed at 3992, up 0.88%.