9 companies debut on China's 'new third board'

BEIJING - China's National Equities Exchange and Quotations (NEEQ), also known as the "new third board," saw the debut of 9 small and medium-sized enterprises from Aug 20 to 24.

With the newcomers, the total number of companies on the board reached 11,050, according to the exchange.

During the period, turnover on the NEEQ stood at 1.437 billion yuan ($211 million), down by 5.21 percent from the previous week.

The exchange was launched in early 2013 to supplement the Shanghai and Shenzhen stock exchanges to serve small and medium-sized enterprises.

It provides an easier financing channel for small businesses, having low costs and simple listing procedures.