The Shenzhen Stock Exchange delisted two companies on December 24, 2012, amid a push to improve its stock delisting procedures.

The bourse said in a statement that Jiangsu Chinese Online Logistics Co. Ltd. and Powerise Information Technology Co. Ltd. failed to win approval to resume trading and would be delisted.

Jiangsu Chinese Online Logistics suffered losses for three straight years from 2003 to 2005. Its trading was suspended on May 15, 2006.Powerise Information Technology saw losses from 2004 to 2006 and its trading was suspended on May 24, 2007.

In late June 2012, both the Shanghai and Shenzhen stock exchanges released programs to improve delisting rules in a bid to protect investors and promote a healthy development of the stock market.

The new rules set specific requirements concerning the stock performance of listed companies on the two bourses.

"As China's stock market becomes mature and more market-oriented, stock delisting will become an increasingly common phenomenon," according to a statement of the Shenzhen bourse.