(Beijing) – The securities regulator has ordered an unusually tough review of last year's financials for all IPO candidates in an effort to weed out unqualified applicants and enhance the others' information disclosure.

Reports from the 21st Century Business Herald say the review would be based on a policy the China Securities Regulatory Commission (CSRC) announced in December. It requires all companies waiting for the regulator's approval to go public to examine their financials for 2012 and submit the results before the end of March.