The research report, published in February 2022 when China was battling the pandemic, predicted that the domestic stock market would still seek bottom following a rebound, as the economy was under heavy downward pressure.
Negative comments by analysts and commentators in China are often censored and have come under increased regulatory scrutiny.
The warning comes as China's stock market is struggling to stand on its feet amid signs the post-COVID recovery is losing steam.
Other analysts and commentators in China have been censored or come under scrutiny after negative comments in the past.
Separately, China's securities watchdog last March launched a crackdown on brokerages using feng shui to predict stock market trends in their research notes, state media reported.
Persons:
CSRC, Zhang Xia, Chen Gang, Geng Ruitan, Tu, Yi Huiman, Hong Hao
Organizations:
China Merchants Securities, China Securities Regulatory Commission, Bank of Communications International Holdings Co, Shanghai, Thomson
Locations:
SHANGHAI, China, Shenzhen