In two consecutive weeks to Wednesday, more than 230 companies debuted on the National Equities Exchange and Quotations, also known as the New Third Board, China's capital market for startups.

The surge was attributed to policymakers' efforts to promote a multi-level capital market system, which is seen as essential to meet the growing financing needs of smaller enterprises.

Now, there are more than 8,220 NEEQ-listed companies. Yet, the demand-supply equation in the funding scenario remains skewed, said analysts.