New board inaugurated to introduce more reform

China inaugurated its Nasdaq-like STAR Market at the Shanghai Stock Exchange on Thursday, kicking off the country's much-anticipated capital market reform.

Yi Huiman, chairman of the China Securities Regulatory Commission, presided over the launch ceremony of the STAR Market - also known as the science and technology innovation board - at the Lujiazui Forum, which is being held in Shanghai on Thursday and Friday.

President Xi Jinping announced in November that the new board would be launched at the Shanghai Stock Exchange with a pilot registration system.