New Third Board gets more SME listings
A total of 47 small and mediumsized enterprises were added to China’s New Third Board, a further expansion of the country’s over-thecounter market since the board was officially established in early 2013. The number of companies listed on the board was 9,168 by Oct 14 and represents China’s efforts to encourage the development of SMEs amid downward economic pressure. The combined market value of the companies is about 3.58 trillion yuan ($534 billion). The New Third Board, or National Equities Exchange and Quotation system, serves as a national share transfer system for SMEs to transfer shares and raise funds.