China's National Equities Exchange and Quotations (NEEQ), also known as the "new third board," saw a turnover of over 129.5 billion yuan (about 19.8 billion U.S. dollars) in 2020.

The figure represents a significant increase from the 2019 turnover of over 80 billion yuan.

In 2020, the total amount of stock issuance by listed companies on the board was 33.76 billion yuan, a marked increase from the previous year.

As of Thursday, 8,187 companies were listed on the NEEQ.

Launched in 2013, the NEEQ intends to offer small and medium-sized enterprises a new financing channel with low costs and simple listing procedures.

China has outlined a series of reforms to better orient the NEEQ to the needs and features of small enterprises, and to support the quality growth of the real economy.