27 firms debut on China's New Third Board

BEIJING — A total of 27 small- and medium-sized enterprises (SMEs) went on China's New Third Board over the past week.

The newcomers brought the number of companies listed on the National Equities Exchange and Quotation (NEEQ) to 11,302.

Turnover on the board totaled 4.6 billion yuan ($675 million) from Monday to Friday, down 5.15 percent from the previous week.

The NEEQ, also known as the "New Third Board," debuted in 2006 as an experimental platform for small, non-listed high-tech enterprises in Zhongguancun Science Park, Beijing. 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.