New board to be set up at Shanghai Stock Exchange for technology innovation

A science and technology innovation board will be set up with a pilot registration system in the Shanghai Stock Exchange, Chinese President Xi Jinping said on Monday.

This is to support the city's development as an international financial center and also a science and technology center, and to constantly improve the basic system of the capital market, the president said in a keynote speech at the opening ceremony of the China International Import Expo.

Also, a new area will be added into the Shanghai Free Trade Zone to encourage and support Shanghai's bold and innovative exploration in promoting investment and trade liberalization and facilitation, and to accumulate more replicable and expandable experience for the whole country, Xi said.

Also of note, the regional integration and development of Yangtze River Delta region will be supported as a national strategy, focusing on implementing new development concepts and constructing a modern economic system, and will promote the deepening of reforms and the opening up at a higher level.

It will help improve the spatial layout of China's reform and opening-up together with the development of the Belt and Road Initiative, the coordinated development of Beijing, Tianjin and Hebei, the Yangtze River economic belt and the Guangdong-Hong Kong-Macau Greater Bay Area.