BEIJING - This year's cumulative turnover of China's main over-the-counter (OTC) equity market has reached 145.1 billion yuan (about $22.37 billion) as of Thursday.

The National Equities Exchange and Quotations (NEEQ), also known as the "new third board," registered a turnover of 8.63 billion yuan in the transaction week spanning Sept 27 to 30 before the National Day holiday.

As of Thursday, there are 7,255 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.