115 Chinese companies debut on 'new third board'

BEIJING - China's National Equities Exchange and Quotation (NEEQ), also known as the "new third board," saw 115 new small and medium-sized enterprises debut in the past week.

The newcomers brought the total number of companies on the board to 11,415, according to data from the NEEQ.

Turnover on the board stood at 3.2 billion yuan ($481 million) last week, down 12.77 percent from the previous week.

NEEQ was launched in early 2013 to supplement the Shanghai and Shenzhen stock exchanges in serving small and medium-sized enterprises.

It is seen as an easy financing channel for small businesses with low costs and simple listing procedures.