BEIJING, March 3 (Xinhua) -- China's National Equities Exchange and Quotations (NEEQ), also known as the "new third board," has seen strong financing in the first two months.

As of February this year, 155 firms on the board received financing by issuing stocks with an accumulated capital of 6.95 billion yuan (about 1 billion U.S. dollars), NEEQ data showed.

From February 25 to March 1, turnover at the board stood at 1.67 billion yuan, up 8.08 percent from the previous trading week.

The number of companies on the board now totals 10,446.

The NEEQ 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. In 2018, the exchange helped China's SMEs raise 60 billion yuan.