36 SMEs debut on China's New Third Board

BEIJING - A total of 36 small and medium-sized enterprises (SMEs) were added to China's New Third Board from Jan 9 to 13, data from RoyalFlush Information, a financial information service provider, showed.

Turnover on the board hit 4.33 billion yuan (around $628 million) in the past week.

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 exchanges, the SME board and the ChiNext board. The board is seen as an easy financing channel with low costs and simple listing procedures.