According to Bloomberg, China’s market for initial public offerings is the hottest it’s ever been, thanks to the securities regulator. The 62 new stocks that have completed their first month of trading this year soared 420% on average in the span, the steepest such rally on record, data compiled by Bloomberg show. For a clue as to why: the average size of this year’s offerings has dwindled to $88 million, the smallest since 2005. While huge returns on mainland IPOs aren’t new, the numbers are getting even more eye-watering as the China Securities Regulatory Commission seeks to stabilize the nation’s $6.1 trillion equity market. Officials asked arrangers and companies to limit their deal sizes in the first half to avoid an oversupply of shares, according to sources.