(Yicai Global) May 30 -- Chinese regulators have been rejecting initial public offering applications by small businesses seeking to lt on the A-share market, according to a report from the 21st Century Business Herald, a respected Chinese financial magazine.Most of the rejected companies have an annual net profit of less than CNY30 million (USD4.56 million), a sign that the China Securities Regulatory Commsion has been methodically refusing to green-light lting applications from small- and medium-sized enterpres. IPO applicants with net profits of between CNY30-50 million are also likely to be rejected, the report said.The Shanghai and Shenzhen stock markets released new rules on Friday prohibiting lted companies from suspending their shares at will. Altogether some 70 firms have halted trading on these two markets for periods exceeding 100 days, and some 13 firms have suspended their shares for more than six months. Major asset restructuring the primary reason for long-term stock suspensions.>These measures are seen as part of China's effort to include A-shares in the MSCI Emerging Markets Index. Last June, MSCI Inc. [NYSE:MSCI], a leading provider of financial indexes, decided not to include A-shares in the index, and instead launched a second round of consultations. A decion will be announced in June.A-shares are denominated in Chinese yuan and are traded on the Shanghai and Shenzhen stock exchanges. Only Chinese individuals and institutions can buy them.