China's securities regulator on Friday unveiled a sweeping reform package for the ChiNext board, China's Nasdaq-style board of growth enterprises, including a fourth listing standard, as part of broader efforts to boost financial support for innovation.

The reform package seeks to further leverage ChiNext's role in serving growth-oriented innovative enterprises. Among the major moves, the China Securities Regulatory Commission (CSRC) will support the IPOs of high-quality innovative firms that have not yet turned a profit, it said in a statement.

A fourth listing standard will be added for the ChiNext board to provide better financial services for high-quality innovative and entrepreneurial companies in emerging and future industries, it said.

The new standard introduces two sets of financial metrics combining market capitalization, revenue, revenue growth and R&D investment, tailored respectively to enterprises in emerging industries and those in future industries.

Analysts said the reform will enhance the inclusiveness and adaptability of the capital market system and improve the coordination between investment and financing, marking a new round of reforms of the capital market.

"The most prominent feature of this reform lies in the inclusivity of the system. By introducing the two new yardsticks of growth potential and innovation, the capital market can now truly identify the promising companies that represent new quality productive forces," said Tian Lihui, dean of the Institute of Finance and Development at Nankai University and a council member of the China Capital Market Society.