New sci-tech board spearheads reform of China's capital market

BEIJING - The short-term performance of individual stocks is not a proper gauge to evaluate the ongoing capital market reform advanced by the science and technology innovation board (which is known as the STAR Market), the head of the market regulator said.

Yi Huiman, chairman of the China Securities Regulatory Commission, said confidence, patience and a long-term perspective are key to assessing the performance of the Nasdaq-style high-tech board.

The board was launched on the Shanghai Stock Exchange on July 22.