The China Securities Regulatory Commission (CSRC) recently accelerated the review process for initial public offerings (IPOs), Shanghai Securities News reported Monday.

The CSRC accepted nearly 200 IPO applications in the first quarter for main board and Shenzhen Small- and Medium-sized Enterprises (SME) Board exchanges, and is reviewing more than 200 IPO applications, unnamed sources told the newspaper. The number of IPOs this year might set a new record at the current pace.

"Recently the IPO reviews were of a much shorter duration, which is only one or two months, and the whole process took less than half a year from applying to getting listed," the report said, quoting sources at investment banks.

"It seems that currently the CSRC review is stressing the possible legal liabilities and sustainable profitability," added the sources at investment banks. The CSRC requires the sponsors to keep focusing on issues that include the enterprises' independence, competition, related party transactions, environmental protections and sudden bursts of share buying.