China will lower the threshold for investors participating in private equity funds through crowdfunding, an online financing platform, to expand fundraising channels for small- and medium-sized enterprises, Chinese media reported on Monday.

The minimum investment in one particular project will be reduced from one million yuan ($162,910) to 100,000 yuan, according to a report citing a revised regulation issued by the Securities Association of China.

The regulation also requires investors to have a minimum of one million yuan in financial assets, down from the previous limit of three million yuan.

Meanwhile, the requirement for individual investors' annual income over the past three years will be cut from 500,000 yuan to 300,000 yuan. The regulator also scrapped its rule that institutional investors should have net assets of at least 10 million yuan.