BEIJING — A total of 150 companies have received financing from China's National Equities Exchange and Quotations (NEEQ), also known as the "new third board," so far this year.

The 150 companies have issued shares worth over 7.2 billion yuan (about $1.1 billion).

Between March 22 and 26, the total turnover on the board was 2.27 billion yuan.

As of March 26, 7,798 companies have been listed on the NEEQ.

Launched in 2013, the board aims 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 to support the quality growth of the real economy.