For instance, the Industrial and Commercial Bank of China, the world's largest commercial lender by market value, will be required to hand over data related to loans and external guarantees next year.
By tracking data more extensively and integrating existing systems, the administration is gradually shifting its focus from administrative control to monitoring capital, the Oriental Morning Post in Shanghai quoted an official as saying.
Although China is trying to build a more comprehensive and integrated information system to pave the way for yuan convertibility, the new pilot program cannot be interpreted as indicating greater speed, Zhao said.
China has announced a slew of measures to liberalize its capital accounts in recent months.
In November, the administration said it will clear the way for foreign investor capital to flow in and out of the country more easily by waiving and simplifying regulations.
Starting on Dec 17, foreign investors will not need to get regulatory approval to open bank accounts, remit profits, and transfer money between different domestic accounts.
Earlier this week a pilot program was launched in Shanghai to allow yuan cross-border lending by onshore multinational corporations to offshore parent companies or related companies within the same group.
This was viewed as another significant step toward liberalizing capital accounts.
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