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BEIJING, June 4 (Xinhua) -- A total of 16 small and medium-sized enterprises (SMEs) went on China's New Third Board last week, new data showed.

The newcomers brought the number of companies listed on the National Equities Exchange and Quotation (NEEQ) to 11,256.

Turnover on the board stood at 3.44 billion yuan (about 505.88 million U.S. dollars) last week.

The NEEQ debuted in 2006 as an experimental platform for small, non-listed high-tech enterprises in Zhongguancun Science Park, Beijing. The present system was officially established on Jan. 16, 2013.

It complements the country's existing stock exchanges, the SME board and the ChiNext board. The board is seen as an easy financing channel with low costs and simple listing procedures.