(Yicai Global) Aug. 24 -- China's major stock indexes gained today as the Shenzhen Stock Exchange's Nasdaq-style ChiNext Board launched its new registration based-initial public offering system, buoying investor sentiment.

The new system is expected to be much quicker than the approval-based system where applications are vetted by the China Securities Regulatory Commission and can take months, even years. The only other registration-based IPOs allowed on the mainland are on the Shanghai Stock Exchange's ChiNext equivalent, the Star Market.

The Shanghai Composite Index climbed 0.15 percent to end the day at 3,385.64. The Shenzhen Component Index rose 1.4 percent, to 13,666.69. The ChiNext, which tracks growth enterprises listed in Shenzhen, moved up 1.98 percent to 2,684.63.

Editor: Kim Taylor