BEIJING, June 21 -- China's securities regulator on Wednesday issued guidelines to deepen bond registration system reform.

The move aims to improve capital market functions and raise the direct financing ratio so that the bond market can better serve the high-quality development of the real economy, according to the China Securities Regulatory Commission (CSRC).

The guidelines put forward measures on various aspects, including optimizing the bond review and registration mechanism, cracking down on illegal activities, protecting investors, and improving the accountability system.

The CSRC said it would further promote reforming the bond registration system, speed up reforming corporate bond systems, and improve the bond market functions to support the implementation of major national strategies and major projects.