China's National Equities Exchange and Quotations, also known as the "new third board," saw the debut of 22 small-and medium-sized enterprises this week.

With the newcomers, the total number of companies on the board reached 11,091, according to the exchange.

From July 30 to Aug. 3, turnover on the board stood at 1.52 billion yuan ($222 million), down 16.21 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.

Cover image: VCG