China's "new third board" sees higher weekly turnover

BEIJING, July 17 (Xinhua) -- China's National Equities Exchange and Quotations, also known as the "new third board," saw turnover rise in the past week.

From July 12 to 16, turnover on the board went up 31.44 percent from the previous trading week to 4.89 billion yuan (about 756 million U.S. dollars).

As of Friday, the board had 7,451 listed firms.

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.