BEIJING, Aug. 11 (Xinhua) -- China's National Equities Exchange and Quotations, also known as the "new third board," said its total turnover reached 49.5 billion yuan (about 7 billion U.S. dollars) as of Aug. 9 this year.

(Photo: Shanghai Stock Exchange)

From Aug. 5 to Aug. 9, turnover on the board remained flat from the previous week at 1.9 billion yuan (about 275 million U.S. dollars).

As of Aug. 9, the board had 9,507 listed firms.

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.