Off the wire
• Locked-up shares worth 7 bln yuan eligible for trade  • President Xi stresses implementation of poverty relief measures  • Astronauts of China's Shenzhou-11 mission meet press  • 1stLD : 4 killed, 2 missing in speedboat fire in eastern Indonesia  • Urgent: 4 killed, 2 missing after speedboat capsizes off eastern Indonesia  • 1st LD-Writethru: Astronauts to be Xinhua's special correspondents in space  • 3rd Ld-Writethru-Xinhua Insight: China to launch Shenzhou-11 manned spacecraft on Oct. 17  • Roundup: UN meeting to set global goals in sustainable urban development for 2 decades  • Across China: Vocational training helps poverty relief in Qinghai  • New airport to be built near China-Russia border  
You are here: 　 Home

47 SMEs debut on New Third Board

Xinhua, October 16, 2016 Adjust font size:

A total of 47 small and medium-sized enterprises (SMEs) were added to China's New Third Board, a further expansion of the country's over-the-counter market since the board was officially established in early 2013.

The number of companies listed on the board was 9,168 by Oct. 14 and represents China's efforts to encourage the development of SMEs amid downward economic pressure.

The combined market value of the companies is about 3.58 trillion yuan (about 534 billion U.S. dollars). Turnover on the New Third Board reached 4.3 billion yuan last week.

The New Third Board, or National Equities Exchange and Quotation (NEEQ) system, serves as a national share transfer system for SMEs to transfer shares and raise funds.

It was founded in 2006 as an experimental platform to facilitate financing for China's non-listed small and promising high-tech enterprises in Beijing's Zhongguancun Science Park.

The present system was officially established on Jan. 16, 2013 after trials in cities including Shanghai, Wuhan and Tianjin.

It complements the existing stock exchange, the SME board and the ChiNext board. The board is seen as an easy financing channel with low costs, simple listing procedures, and a short application period for companies not qualified for listing on the major exchanges. Endi