Based on field observations and compilation of data, a new stratigraphic concept, herein named the Permian-Triassic boundary stratigraphic set (PTBST), is proposed. The PTBST consists of, in ascending order, beds of claystone, limestone (or marl) and claystone. This boundary stratigraphic set has been recognized at many sections in the Yangtze region of South China, with laterally stable lithological characters, the same or comparable biotas, comparable radiometric ages, and identical or similar magnetostratigraphic and chemostratigraphic signals. Therefore, the PTBST marks an isochronous unit and can serve as an important and effective marker set for regional and global correlations. The important index fossils for the lowermost Triassic, Hindeodus parvus or Claraia, may be diachronous in their first occurrences with respect to the base of the PTBST and, therefore, should not be used as an exclusive indicator for the beginning of the Triassic. Rather more attention should be paid to events, succession of events and/or event surfaces, which would potentially provide a more precise tool for high-resolution stratigraphic division and correlation.