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China's start-up board turnover rises mildly

Xinhua, July 23, 2016 Adjust font size:

Total turnover on the National Equities Exchange and Quotations (NEEQ), an over-the-counter market for Chinese startup companies to raise funds, gained mildly in the past week.

From July 18 to 22, transaction volume on the NEEQ increased 1.46 percent from the previous week to 2.59 billion yuan (around 390 million U.S. dollars).

During the week, 55 companies debuted on the market, bringing the total number of companies listed on the NEEQ to 7,825.

More small firms are turning to the NEEQ for financing as the government promotes a multi-level capital market to satisfy growing funding demands from both large and small companies.

The NEEQ was launched in Beijing in late 2012 and is also known as the "new third board" that supplements the main board of Shanghai and Shenzhen bourses. Endi