China's National Equities Exchange and Quotations saw the debut of five new small- and medium-sized enterprises in the first week after the Spring Festival holiday. (Photo:IC)

BEIJING - China's National Equities Exchange and Quotations, also known as the "new third board," saw the debut of five new small- and medium-sized enterprises (SMEs) in the first week after the week-long Spring Festival holiday.

The number of companies on the board now totals 10,489.

From Feb 11 to 15, turnover at the board stood at 1.03 billion yuan ($152.47 million), down 54 percent from the previous trading week.

The system 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. In 2018, the exchange helped China's SMEs raise 60 billion yuan.