China's new initial public offerings system based on registration is fully implemented as the first batch of 10 enterprises was listed under the system on the main board of the Shanghai and Shenzhen bourses on Monday.

The move, marking a milestone in China's capital market, has improved the market's service for the real economy, especially for technology innovation, and reshaped the A-share market's ecology, Beijing Daily reported on Tuesday.

Five companies of the total 10 are listed on the main board of the Shanghai Stock Exchange, while another five went public on the Shenzhen Stock Exchange.

On Monday, the 10 new shares all rose high on the morning session, with 9 triggering temporary suspension.

CITIC Metal, a subsidiary of CITIC Group's advanced materials sector, saw its stock soar by nearly 116 percent on Monday, closing up 70 percent to 11.24 yuan ($1.63) per share, bringing its latest market value to 55 billion yuan.

Shenzhen CECport Technologies, an electronic component manufacturer, recorded a significant surge, with a closing price that doubled, registering an increase of 221 percent.

The share prices of Dencare (Chongqing) Oral Care Co Ltd and Both Engineering Technology Co Ltd rose by 173 percent and 110 percent, respectively, said the daily.

Shaanxi Energy Investment Co Ltd and Jiangxi Salt Industry Group Co Ltd also saw a 48 percent and 57 percent increase in their share prices.

Rules for trading new shares on the Shanghai and Shenzhen main boards changed under the registration-based IPO system, which means no limitation on price fluctuation for the first five trading days after listing.

China has managed to take a gradual reform in the capital market by taking the pilot registration system first on the STAR market of the Shanghai bourse and then rolling it out into the existing stock markets, said Yi Huiman, chairman of the China Securities Regulatory Commission.

The changes brought about by the registration system reform are all-round and fundamental. The mechanism has already helped the capital market better serve the real economy and promoted technological innovation.

The structure and ecosystem of the Chinese capital market have thus experienced profound changes, significantly enhancing market vitality and resilience, he said.

The registration-based IPO mechanism was first launched on the STAR Market of the Shanghai bourse on July 22, 2019. It was further introduced on ChiNext in Shenzhen in 2020 and on the Beijing Stock Exchange in 2021.