BEIJING, May 8 (Xinhua) -- About 70 percent of small and medium-sized enterprises listed on China's National Equities Exchange and Quotations (NEEQ), also known as the "new third board," earned profits in 2020.
A total of 6,966 companies that have released annual reports by the end of April registered net profits of 60.82 billion yuan (about 9.4 billion U.S. dollars) in 2020, up 7.23 percent from a year earlier.
Among the profit makers, companies in strategic emerging industries saw their net profits surge 55.3 percent year on year.
Launched in 2013, the board aims to offer small and medium-sized enterprises a new financing channel with low costs and simple listing procedures.
China has outlined a series of reforms to better orient the NEEQ to the needs and features of small enterprises, and to support the quality growth of the real economy. Enditem
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