BEIJING — China's National Equities Exchange and Quotations (NEEQ), also known as the "new third board," has seen a turnover of about 25.55 billion yuan (about $3.93 billion) so far this year.

From March 8 to March 12, its turnover hit approximately 2.24 billion yuan.

Launched in 2013, the NEEQ intends to offer small and medium-sized enterprises a new financing channel with low costs and simple listing procedures.

China has outlined a series of reforms to better orient the NEEQ to the needs and features of small enterprises, and support the quality growth of the real economy.

The NEEQ saw a turnover of about 129.46 billion yuan in 2020, a significant increase from the 2019 figure of over 80 billion yuan.

As of March 12, 7,899 companies were listed on the NEEQ.