China's stock benchmark is down 4.3% since the start of the year, hovering around close to five-year lows amid weak investor sentiment in the face of the country's sluggish post-pandemic recovery.

The China Securities Regulatory Commission (CSRC) also said it will balance the development of primary and secondary markets, and continue the "countercyclical adjustment" of initial public offerings (IPOs).

Beijing has announced a slew of measures to support the market since last August, including reducing trading costs, slowing the pace of IPOs, and encouraging margin financing, which so far failed to boost investor confidence.

The latest economic indicators showed a mixed picture for China's recovery. Exports grew at a faster pace in December, while deflationary pressures persisted last month, keeping alive expectations for more policy easing measures.

(Reporting by Shanghai Newsroom; Editing by David Goodman and Toby Chopra)