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BEIJING, Aug. 3 (Xinhua) -- China will further open its capital market and streamline channels for foreign investors, the country's top securities regulator said.

The country will continue to open up markets, industries and products to foreign investors while simultaneously stepping up oversight to forestall risks, the China Securities Regulatory Commission said in a statement.

The regulator will step up cooperation with other countries in capital market oversight and implement reform measures, it said.

While pledging to trim unnecessary regulations to let market forces play a bigger role in the capital market, the commission vowed "zero tolerance" to illegal activities such as insider trading and financial fraud.

It will continue to improve mechanisms to enhance the quality of listed firms so that the capital market could play its part in supporting economic development, the regulator said.