A draft regulation for the stock registration system will be rolled out in June this year at the soonest and take effect in 2015, China Business News reported.

A source close to the China Securities Regulatory Commission told the newspaper on Tuesday: "The Securities Law is about to be amended and the amendment may be complete within this year. After that, the Issuance Examination Committee of CSRC will be removed."

The transformation of supervision of the stock market will focus on developing the registration system, simplifying approval procedures, and sufficiently disclosing information, said Xiao Gang, chairman of the CSRC, in a speech on Tuesday carried on the CSRC website.

Xiao outlined "Six Shifts" in the reform, including moving from supervision to balanced emphasis on financing and risk control, protection of small investors, and joint improvement of law enforcement and the scale, structure and quality of the market.