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13 companies debut on China’s ‘new third board’

Updated: Jul 15,2018 10:54 AM     Xinhua

BEIJING — China’s National Equities Exchange and Quotations, also known as the “new third board,” saw the debut of 13 new small and medium-sized enterprises last week.

With the newcomers, the total number of companies on the board reached 11,140, according to the exchange.

From July 9 to 13, turnover on the board stood at 1.78 billion yuan (about $267 million), down 4.57 percent from the previous week.

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. Last year, total turnover on the board stood at about 227 billion yuan, up 18.7 percent from 2016.