China's "new third board" sees lower weekly turnover

BEIJING, Sept. 15 (Xinhua) - China's National Equities Exchange and Quotations, also known as the "new third board," saw lower turnover last week.

File photo: VCG

From Sept. 9 to 12, turnover on the board dropped by 17.1 percent from the previous week to 1.21 billion yuan (about 171 million U.S. dollars).

As of Thursday, the board had 9,277 listed firms and a total turnover of 56.9 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.