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

21 October, 2019 12:00 AM printer

BEIJING: China's National Equities Exchange and Quotations, also known as the "new third board," saw higher turnover last week.

From Oct. 14 to 18, turnover on the board rose by 42.07 percent from the previous trading week to 1.31 billion yuan (about 185.86 million U.S. dollars).

The board had 9,205 listed firms as of Friday, reports AFP.

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.