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The regulatory authorities said financial institutions should create rational investment strategies and algorithm models, as well as remind investors of the flaws and risks associated with algorithm-based robo-advisory models.

The region was listed as one of the country's big data development zones in 2016 and Hohhot has attracted an array of tech giants including Baidu Inc and JD.com as well as the country's three major telecom operators.

The report listed the 14-point fundamental principles of the Thought, ranging from ensuring Party leadership over all work to promoting the building of a community with a shared future for mankind.

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The regulator also simplified the procedure for issuance of insurance asset management products.

The regulator also encouraged banks and insurers to largely increase medium-to long-term funds they provide to the advanced manufacturing industry and strategic emerging industries, along with combining efforts to keep employment stable to serve private and small businesses.

The report said it expects demand for consumer finance to increase rapidly after the epidemic tapers off, as pent-up consumption demand gradually recovers, while young consumers, the major client group of consumer finance services, are hit particularly hard by the virus in terms of employment and income.

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The regulator will continue to contain financial risks, curb shadow banking, prevent loans from flowing into the property sector in an improper way and prevent hidden debt risks, said Huang.

The remarks came from a March interview where Fauci discussed the broader effort to fight the new coronavirus, including by the White House task force.

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The regulation also requires government at all levels to set up emergency rescue headquarters to direct diverse operations and to coordinate efforts by different governmental bodies, Zhang said.

The report also pointed out that China's economy may become stronger in the long run, so it will be more important as a market.