5 firms debut on China's 'new third board'

BEIJING - China's National Equities Exchange and Quotations, also known as the "new third board," saw the debut of five new small and medium-sized enterprises during the past week.

With the newcomers, the total number of companies on the board stood at 9,990 as of Thursday, according to the exchange.

From June 3 to 6, turnover on the board stood at 1.15 billion yuan (about $167 million), up 1.13 percent from the previous week.

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.