China's securities regulator on Thursday denied the report that its chief Guo Shusheng will be appointed to a new[Hong Kong Company Registration Guide] position, saying that such reports were merely hearsay.

The remarks came after some foreign media reported that Guo, chairman of the China Securities Regulatory Commission, is tipped to head the state investment vehicle, China Investment Corporation.[Businesses Registration]

"We don't know where they got the information, nor do we believe they can get such information earlier than us. We think it (the report) is groundless hearsay," a spokesperson with the committee said.