BEIJING (Reuters) -China will strive to stabilise the economy and will use various policy tools to support employment, state media quoted the cabinet as saying on Wednesday. China's fiscal and monetary policy will prioritise employment, and various policy tools will be used to help stave off job losses, the cabinet was quoted as saying after a regular meeting. "The new downward pressure on China's economy increased further in April due to the larger than expected impact from a new round of the pandemic and changes in the international situation," the cabinet said.
China's securities regulator nudged mutual funds to develop fund products for private pensions and asked them to stabilise markets, as Chinese equities witness a downturn that has pushed benchmarks to two-year lows. The move also comes against the backdrop of China launching its first private pension scheme last week, as it tackles economic challenges linked to an ageing population and looks to channel more long-term money into the stock market. Main benchmarks in China's stock market have plunged more than 20% this year, as the world's second largest economy grapples with COVID-19 flare-ups, the Ukraine crisis, and a likely aggressive U.S. monetary tightening.
China's securities regulator said on Thursday both China and the United States have a willingness to solve their audit disputes, and the outcome depends on the wisdom of both parties. The China Securities Regulatory Commission (CSRC) said whether Chinese companies listed in the United States are delisted in the future depends on the progress and results of the audit and regulatory cooperation between the two countries. This came as the U.S. Securities and Exchange Commission (SEC) on Wednesday added five companies, including iQIYI Inc and Baidu Inc, into the latest batch of stocks facing delisting risks from the United States.