TIANJIN, Sept. 12 (Xinhua) -- China may liberalize its capital account as early as 2015, a former central bank governor said Wednesday.

"Under normal circumstances, China will have the conditions to make major breakthroughs in capital account liberalization within the next three to five years," said Dai Xianglong, chairman of the National Council for Social Security Fund and former central bank governor.

He gave an affirmative answer in response to a question on whether China could fully open up its capital account by 2015 at a panel discussion during the ongoing 2012 Summer Davos Forum being held in north China's Tianjin Municipality.

However, he said the actual pace of financial reforms will be affected by the state of international and domestic financial systems. Enditem