Innovation board drives stock market reform

Editor's Note: In a recent interview with the media, Chairman of the China Securities Regulatory Commission Yi Huiman said the pilot registration system marks the biggest institutional breakthrough in the reform of the science and technology innovation board on the Shanghai Stock Exchange and the direction for the reform of the entire capital market. Beijing Youth Daily comments:

On Nov 5 last year, President Xi Jinping announced at the opening ceremony of the first China International Import Expo that the science and technology innovation board would be set up and a registration system piloted. Over the past year, the smooth establishment of the science and technology innovation board with its pilot registration system has been the top priority for the reform of China's capital market.

Replacing administrative review and approval with the pilot registration system is the biggest institutional breakthrough of the science and technology board. After more than 100 days since its launch, the trial of the registration system has advanced in a smooth and orderly manner, with all procedures open and transparent.