BUSINESS Turnover on 'new third board' exceeds 40 b yuan

BUSINESS

Turnover on 'new third board' exceeds 40 b yuan

Xinhua

22:54, July 07, 2019

An investor checks share prices at a securities brokerage in Nanjing, capital of Jiangsu province. (Photo provided to China Daily)

BEIJING, July 7 (Xinhua) -- Turnover on China's National Equities Exchange and Quotations, also known as the "new third board", reached 40.27 billion yuan (about $5.92 billion) from the start of the year to July 5.

Turnover on the board stood at 1.69 billion yuan this week, down about 30 percent from one week earlier, according to the exchange.

As of Friday, the total number of companies on the board stood at 9,904.

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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