The China Securities Regulatory Commission is streamlining administrative procedures for domestic companies seeking to raise funds abroad, the commission said on Friday.

"We have simplified overseas listing materials. Chinese companies seeking to go public abroad no longer need to provide audit results or environmental protection certificates," said Zhang Xiaojun, a CSRC spokesman.

The CSRC also confirmed the required application materials for issuing new common or preferred shares abroad, said Zhang.

The regulator approved the overseas preferred share issue application of Bank of China Ltd in September and a similar application by Industrial and Commercial Bank of China Ltd in November.

"We will continue to 'streamline overseas listing approval procedures' as mandated by the State Council executive meeting on Wednesday and facilitate Chinese companies' moves to raise financing abroad," said Zhang.

The State Council (cabinet) held an executive meeting on Wednesday, presided over by Premier Li Keqiang, at which it decided to further streamline procedures for local companies aiming to list overseas, undertake mergers or open banking facilities.

A statement issued after the meeting said commercial banks are encouraged to provide stronger support for exports of heavy equipment.

The government also scrapped an unpopular precondition for overseas investment. It will now allow investors to transfer money directly to target companies abroad and register cooperation projects through banks. Until now, companies had to obtain government approval for such deals, even after reaching agreement with foreign companies.

The easing of restrictions comes as many Chinese companies expand overseas and seek to sell more products with high value-added.

China is poised to become a net capital exporter for the first time by the end of the year, when its overseas direct investment is expected to surpass its inbound foreign direct investment.

Chinese companies had secured new overseas deals valued at $161 billion as of November, up 12.5 percent year-on-year. Domestic companies operating overseas employ 17 million workers, more than half of whom are foreign nationals.

Zhao Yinan contributed to this story.