More SMEs debut on China's New Third Board

BEIJING - More small and medium-sized enterprises (SMEs) were added to China's New Third Board in the past week.

A total of 110 SMEs debuted on the board from Jan 16 to 20, up from 36 a week ago and increasing the total number of its listed companies to 10,354.

Turnover on the board reached 5.2 billion yuan (around $760 million) during the period, up 20.1 percent from a week ago.

The New Third Board, or National Equities Exchange and Quotation (NEEQ) system, is a national system for SMEs to transfer shares and raise funds.

It began life in 2006 as an experimental platform for non-listed small high-tech enterprises in Beijing's Zhongguancun Science Park. The present system was officially established on Jan 16, 2013.

It complements existing stock exchanges, the SME board and the ChiNext board. The board is seen as an easy financing channel with low costs and simple listing procedures.