The chairman of the China Securities Regulatory Commission pledged to speed up capital market reform and opening-up, based on improving investors' protection, according to a report on the commission's website on Monday.

Xiao Gang, who took office in March, made the statement after a videophone conference on government function transformation. "As the securities regulatory institution, the CSRC will gradually and resolutely ease its control in areas which shouldn't be controlled, as long as the legislation allows for this," Xiao said.

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