In Brief: China has means to support economy

Mr Fang Xinghai, vice-chairman of China's Securities Regulatory Commission.
Mr Fang Xinghai, vice-chairman of China's Securities Regulatory Commission.PHOTO: REUTERS

China has means to support economy

China has the means to ward off a sharper slowdown in the economy, especially on the fiscal side, Mr Fang Xinghai, vice-chairman of China's Securities Regulatory Commission, said at a session at the World Economic Forum. He also urged China's stock market to do more to support the economy, without giving details.

His statement came as International Monetary Fund chief Christine Lagarde blamed poor communication by China's economic managers for causing uncertainty and exacerbating market fears.

REUTERS


Greece accepts IMF role in bailout

Greek Prime Minister Alexis Tsipras said that Athens accepts its European partners' insistence that the International Monetary Fund (IMF) should play a role in supervising the country's international bailout.

Addressing the forum on a panel that included German Finance Minister Wolfgang Schaeuble, Mr Tsipras said Greece believed the European Union could manage the programme on its own but it accepted that other partners wanted the IMF involved.

REUTERS


Drug firms seek help in superbug fight

More than 80 international drug and biotech firms urged governments to work with them to combat drug-resistant superbugs which could kill tens of millions of people within decades unless progress is made and new antibiotics found. In a declaration at the forum, they called for coordinated efforts to cut unnecessary use of antibiotics and support development of new ones, including through changing drug prices.

REUTERS

A version of this article appeared in the print edition of The Straits Times on January 22, 2016, with the headline 'In Brief: China has means to support economy'. Print Edition | Subscribe