SMEs debut on China's ‘new third board’ in 2018

Published: October 06, 2018 13:41:15 | Updated: October 08, 2018 16:31:28

A total of 1,106 small and medium-sized enterprises in China have debuted on the National Equities Exchange And Quotations Co, Ltd (NEEQ), also known as the "new third board," in 2018.

These companies issued stocks worth 47.52 billion yuan (about 6.92 billion US dollars), according to the exchange.

During the latest trading week before the National Day holiday, turnover on the board stood at 1.492 billion yuan, up 26.44 per cent from the previous week, reports Xinhua.

The exchange was launched in early 2013 to supplement the Shanghai and Shenzhen stock exchanges to serve SMEs.

It is seen as a more beneficial financing channel for small businesses, with low costs and simple listing procedures.

As of Sept. 28, the overall market value of the 10,946 companies on the "new third board" reached over 3.6 trillion yuan.

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