CSRC to deepen reforms

China's top securities regulator is moving to deepen reforms of its administrative approval system, a senior government official said on Saturday, as part of the country's broad-based efforts to cut government red tape to stimulate the economy.

The China Securities Regulatory Commission (CSRC) will continue reform actions to streamline its administrative approval system by slashing more administrative examination and approval procedures, Jiang Yang, vice chairman of CSRC, told a forum in Beijing on Saturday.

Vowing to make such efforts to ease the problem for enterprises of high funding costs and low accessibility to capital, Jiang said over the course of 2012 and 2013, the commission had cut more than 40 administrative approval items.