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

2019-05-26 07:59:11 GMT2019-05-26 15:59:11(Beijing Time) Xinhua English

BEIJING, May 26 (Xinhua) -- China's National Equities Exchange and Quotations, also known as the "new third board," saw the debut of eight new small and medium-sized enterprises during the past week.

With the newcomers, the total number of companies on the board stood at 10,001 as of Friday, according to the exchange.

From May 20 to 24, turnover on the board stood at 933.9 million yuan (about 135 million U.S. dollars), down 38.9 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.