BEIJING — China's National Equities Exchange and Quotations, also known as the "new third board," saw turnover during the trading week from April 12 to 16 exceed 2 billion yuan ($307 million).

As of April 16, the total turnover on the board since the beginning of this year had amounted to about 36.16 billion yuan. By April 16, the board had 7,735 listed firms.

The exchange was launched in early 2013 to supplement the Shanghai and Shenzhen stock exchanges to serve small and medium-sized enterprises.

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