New Third Board not the Nasdaq of China, says official

It would be inaccurate to compare China's New Third Board, the pilot national share transfer system for small and medium-sized enterprises, with the Nasdaq Stock Market in the United States, Yeeli Hua Zheng, chief representative of the US stock exchange in China, said on Monday.

The National Equities Exchange and Quotations, better known as the New Third Board in China, is a unique and innovative mechanism of the capital market and no bourses in the world can be compared to it, Zheng said at a news conference in Beijing.

The response from Nasdaq's China chief was intended to clarify market confusion about the Chinese board, as it has been increasingly referred to as the Chinese version of Nasdaq by some press and market observers.