BUSINESS China's 'new third board' sees higher weekly turnover

BUSINESS

China's 'new third board' sees higher weekly turnover

Xinhua

19:27, December 26, 2020

File photo: agencies

BEIJING, Dec. 26 (Xinhua) -- China's National Equities Exchange and Quotations, also known as the "new third board," saw higher turnover in the past trading week.

From Dec. 21 to 25, turnover on the board went up 13.12 percent from the previous trading week to about 3.69 billion yuan (about 563 million U.S. dollars).

As of Friday, the board had 8,189 listed firms and a total turnover of 126.5 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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