IPO reform should be done gradually: Official

Securities watchdog aims to further internationalize nation's markets

The reform of China's capital market requires strenuous efforts but should not be over-ambitious, the head of China's securities watchdog said on Tuesday.

"China's financial market is far from fully market-oriented. Our reform aims to further commercialize it, improve the legal system and make it more international," Xiao Gang, chairman of the China Securities Regulatory Commission, said during a media brief at the ongoing annual session of the National People's Congress.