New Third Board Bars More Financial Firms to Ward off Risks: Media
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It has been reported that China's New Third Board has suspended listings of more financial firms.

This latest ban expands to certain kinds of financial firms including peer-to-peer lending companies and pawnshops.

The suspension does not include traditional financial firms such as banks, trust firms and brokerages.

Last month, a senior official from China's securities regulator confirmed that listings and fundraising by the private equity firms were suspended on the exchange.

Both moves are believed to be aimed at reducing market risks on the board.

The New Third Board is the country's biggest over-the-counter equity exchange and is open to companies that cannot access the stock market.

The board has been expanded rapidly since being established 3 years ago.

The number of companies traded there surged to some 5,500, almost double the number of Chinese firms listed on the stock exchanges.

However, trading on the exchange proved extremely volatile, which prompted regulators to step up supervision.

Author： 　　　Source：xinhua　　　 Editor：Yang Fan