BEIJING — A total of 20 new small and medium-sized enterprises debuted on China's National Equities Exchange and Quotations (NEEQ), also known as the "new third board," in the past week.

The newcomers brought the total number of companies on the board to 11,617, data from the NEEQ showed.

Turnover on the board reached 3.77 billion yuan (about $569 million) last week, up 19.97 percent from the previous trading week.

The NEEQ was launched in early 2013 to supplement the Shanghai and Shenzhen stock exchanges in serving small and medium-sized enterprises.

It is seen as an easy financing channel for small businesses with low costs and simple listing procedures.