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51 SMEs debut on New Third Board

Xinhua, December 4, 2016 Adjust font size:

Some 51 small- and medium-sized enterprises (SMEs) were added to China's New Third Board this week, increasing its number of listed companies to 9,786 as of Friday.

Turnover on the board reached 4.65 billion yuan (around 676 million U.S. dollars), up 4.7 percent from a week ago.

A total of 2,304 SMEs have been added to the board since the beginning of 2016, with combined market value of more than 3.74 trillion yuan, latest data showed.

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 in 2006 as an experimental platform for non-listed, small, high-tech enterprises in Beijing's Zhongguancun Science Park. The present system was established in January 2013.

The NEEQ complements existing stock exchanges as an easier financing channel with low costs and simple listing procedures. Endit