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China's 'new third board' helps SMEs raise fund amid epidemic

Updated: Apr 20,2020 07:20 AM    Xinhua

BEIJING — China's National Equities Exchange and Quotations, also known as the "new third board," saw transactions exceed 26.4 billion yuan ($3.67 billion) so far this year.

From April 13 to 17, turnover on the board reached 1.8 billion yuan. As of April 17, the board had 8,718 listed firms.

Saidian, operator of Bestdo.com, a Chinese online sport service provider, recorded the highest weekly transaction on the board, raising 127 million yuan.

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.

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