A Chinese newspaper was ordered by a local press regulator to carry out full rectification on Thursday after one of its reporters was arrested for alleged damage to commercial reputation.

The Administration of Press, Publication, Radio, Film and Television in Guangdong Province suggested the publishers of the New Express, the Yangcheng Evening News Group, investigate the responsibilities of related employers and change the newspaper's leadership.

The remaining problems of the paper will be further investigated and solved in accordance to law, said the administration.

The administration also revoked the reporter Chen Yongzhou's press card on the same day.

This came after Zoomlion, a large engineering company in Changsha, reported to police in Changsha on Sept. 9 that Chen had fabricated facts and defamed the company in a series of reports since 2012, which damaged its commercial reputation and caused severe losses.

Police in Changsha launched an official investigation on Sept. 16 and detained Chen in Guangzhou on Oct. 18 after uncovering a large amount of related evidence.

In video footage aired by China Central Television on Saturday, Chen said to police that he had released a series of unverified and false reports against Zoomlion at the request of others and for money and fame.

The reports had resulted in the company's stocks dropping and public accusations against its management.

Chen, 27, has served as a New Express reporter since his graduation in 2009.

He apologized to the company, stock investors and his own family.

The New Express on Sunday apologized for Chen's untrue stories, pledging to strengthen management of its employees and the publication procedure, and to carry out an overhaul targeting any existing problems.