China’s ‘new third board’ sees higher weekly turnover

BEIJING (XINHUA) – China’s National Equities Exchange and Quotations, also known as the “new third board”, saw higher turnover in the past week.

From February 22 to 26, turnover on the board went up 121.45 per cent from the previous trading week to CNY2.95 billion (about USD455.9 million).

As of Friday, the board had 7,976 listed firms.

The exchange 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 easier financing channel for small businesses, with low costs and simple listing procedures.