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China's "new third board" sees lower weekly turnover

2019/10/14 10:16:31   source:Xinhua

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

From Oct. 8 to 11, turnover on the board dropped by 41.57 percent from the previous trading week to 925.24 million yuan (about 130.82 million U.S. dollars).

As of Friday, the board had 9,219 listed firms and a total turnover of 61.2 billion yuan this year.

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.

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