An industry and commerce official on Thursday reiterated China's new policies to streamline company registration and clarified that they apply to foreign as well as domestic capital.

China will remove the minimum capital requirements for registering a limited liability company or a joint stock company, among other measures, to support small businesses, said Zhang Mao, minister of the State Administration for Industry and Commerce, at a press conference.

Other moves include replacing the annual inspection of companies with a reporting system, loosening controls over sites for business operation, and improving the mechanism to promote business integrity, said Zhang.

In response to a reporter's question on the subject, he added, "Based on the principle of national treatment, the reform measures will apply to foreign-invested companies."

According to Zhang, the measures are part of government efforts to streamline administration, mobilize investment, strengthen the economy and boost employment.

They were first announced following an executive meeting of the State Council on Oct. 25, although a timeline for introducing them has not been specified.