China's new third board hits 66 bln yuan turnover

The cumulative turnover of China's main over-the-counter (OTC) equity market has hit 66 billion yuan (about 10 billion U.S. dollars) so far this year.

The National Equities Exchange and Quotation (NEEQ), also known as the "new third board," registered a turnover of 3.7 billion yuan in the transaction week from July 5 to 9.

As of Friday, there are 7,464 companies on the board.

Launched in 2013, the board aims 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.