Turnover on 'new third board' exceeds 40 b yuan

BEIJING -- Turnover on China's National Equities Exchange and Quotations, also known as the "new third board", reached 40.27 billion yuan (about $5.92 billion) from the start of the year to July 5.

Turnover on the board stood at 1.69 billion yuan this week, down about 30 percent from one week earlier, according to the exchange.

As of Friday, the total number of companies on the board stood at 9,904.

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.