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106 SMEs debut on China’s New Third Board

Updated: Jan 30,2017 9:38 AM     Xinhua

BEIJING — A total of 106 small- and medium-sized enterprises (SMEs) were added to China’s New Third Board over the past week, down from 110 from Jan 16 to 20.

These newcomers brought the total number of companies listed on the National Equities Exchange and Quotation (NEEQ) system to 10,454.

Turnover on the board reached 4.08 billion yuan (around $595 million) during the period, down 21.55 percent from a week ago.

The NEEQ began life in 2006 as an experimental platform for non-listed small high-tech enterprises in Beijing’s Zhongguancun Science Park. The present system was officially established on Jan 16, 2013.

It complements the country’s existing stock exchanges, the SME board and the ChiNext board. The board is seen as an easy financing channel with low costs and simple listing procedures.