China’s National Equities Exchange and Quotations, also known as the “new third board,” saw turnover surge in the past week.

From May 10 to 14, turnover on the board went up 167.97 percent from the previous trading week to 2.04 billion yuan (about 318.1 million US dollars).

As of Friday, the board had 7,540 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.