A clarification notice by the Asset Management Association of China on Saturday said that a widely shared article online "Joint announcement of 23 publicly-offered funds" was a "rumor".
So far, the companies listed in the so-called joint announcement have not issued anything related to the content of the announcement, said the association.
The association reserves the right to investigate and affix legal liability to the rumormonger.
The rumor came shortly after China's 21 major securities brokers announced on Saturday measures to "firmly" stabilize the country's stock market, which has been shaken by continued plunges.
