Quotation System: Equities Exchange and Transfer Shares

quotation system: Turnover on the New Third Board reached 4.24 billion yuan last week, according to Royal Flush Information, a financial information service provider, according to Xinhua China. 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. The number of companies listed on the board was 9,227 as of Oct. 21 and represents China efforts to encourage the development of SMEs amid downward economic pressure. It was founded in 2006 as an experimental platform to facilitate financing for China non-listed small and promising high-tech enterprises in Beijing Zhongguancun Science Park. It complements the existing stock exchange, the SME board and the Chi Next board. The present system was officially established on Jan. 16, 2013 after trials in cities including Shanghai, Wuhan and Tianjin. (news.financializer.com). As reported in the news.