Financial & Judicial Reform: Shanghai High Court issues more legal reforms for new board

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The launch of China's new Science and Technology Innovation Board has created many opportunities, but also challenges. With financial crisis cases on the rise, Shanghai's High Court has issued new measures for better protecting domestic and global investors. CGTN's Wu Lei has more.

When talking about the Chinese stock market, many private investors seem not to be satisfied.

"For me, it is very hard to make money from the stock market, I always lose money."

"Generally the Chinese stock market is unstable with sharp fluctuation."

While many factors send stocks up and down, officials say Chinese securities regulators have been reforming the stock market. One of the latest moves is the launch of this new science and technology board, by which pricing power is returned to the market."

YI HUIMAN, CHAIRMAN CHINA SECURITIES REGULATORY COMMISSION "Market-based pricing means there's potential for companies to be overvalued, hyped and prices can fluctuate dramatically. Investors should be more rational."

This board has an important new feature: a registration system instead of approvals. Around 120 Chinese companies have successfully applied and currently, 9 of them have passed review and are slated to list soon.

WU LEI SHANGHAI "As more investors gear up to invest on the new board, experts suggest people familiarize themselves with the risks and turn to legal solutions when encountering any market violators."

In order to better serve and guarantee the success of the new board, the Shanghai High People's Court issued several measures on perfecting certain legal and judicial work on Monday.

MAO RONGHUA, VICE PRESIDENT SHANGHAI HIGH PEOPLE'S COURT "We don't have such specific regulations for this new registration system, so our judicial department needs to innovate and explore updated measures to protect investors."

And the High People's Court will also set up a professional trial team to undertake cases related to the new board, aiming to provide more help and consultation for investors from home and abroad. WL, CGTN, SH.