China's State Council on Wednesday specified a string of measures aimed at better regulating the regional equity markets in a latest effort to aid financing for small- and medium-sized enterprises (SMEs).

China will promote the healthy development of regional equity markets to allow them play "positive roles" in serving SMEs in the areas, said a statement released after a State Council executive meeting presided over by Premier Li Keqiang.

Cross-regional operations of the equity markets will be adjusted and regulated, the statement said, stating such financing platforms in one region should be managed by one single institution.

A qualified investors mechanism will be put in place to stipulate requirements for trading in the equity market exchange, such as demanding participants to have relatively strong risk tolerance and certain scale of financial assets.

The meeting also clarified regulation responsibilities between provincial governments and securities regulator to jointly protect the interests of investors.

The move is part of a series of policies to ease financing difficulties for SMEs as banks usually favor big state-backed giants.