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10 firms debut on China's "new third board"

June 11,2018

   
   

China's National Equities Exchange and Quotations (NEEQ), also known as the "new third board," saw the debut of 10 new small and medium-sized enterprises last week.

With the newcomers, the total number of companies on the board reached 11,298, according to NEEQ.

From June 4 to 8, turnover on the board stood at 1.75 billion yuan (US$273 million), up 14 percent from the previous week.

The NEEQ was launched in early 2013 to supplement the Shanghai and Shenzhen stock exchanges to serve small and medium-sized enterprises.

It is seen as an easy financing channel for small businesses, with low costs and simple listing procedures. Last year, total turnover on the board stood at 227 billion yuan, up 18.7 percent from 2016.