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91 SMEs debut on New Third Board

Xinhua, October 30, 2016 Adjust font size:

A total of 91 small and medium-sized enterprises (SMEs) have been added to China's New Third Board.

The number of companies listed on the board was 9,318 as of Oct. 28, indicative of the role of SMEs in offsetting downward economic pressure.

Turnover on the board reached 4.94 billion yuan (around 740 million U.S. dollars) last week, according to RoyalFlush Information, a financial information service provider.

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

It began life in 2006 as an experimental platform for non-listed small 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, Tianjin and Wuhan.

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 and simple listing procedures. Endi