BEIJING — China's National Equities Exchange and Quotations, also known as the "new third board," saw turnover rise in the past week.

From Aug 9 to 13, turnover on the board went up 39.34 percent from the previous trading week to 4.09 billion yuan (about $631 million).

As of Aug 13, the board had 7,369 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.