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"Constraints over local governments' budgets will be made more binding," it said, noting that "disorderly use of debt financing for construction will be resolutely stopped and the governments' bond issuance practices will be standardized."

"China will take all sorts of necessary legal and administrative measures toward entities put on the list," the column said. "Foreign enterprises must obey laws and regulations if they want to grab development opportunities in the Chinese market."

"China's economic recovery was not strong enough due to limited improvement in demand, and some companies didn't replenish inventories," said Zhong Zhengsheng, chairman and chief economist at CEBM Group, a Caixin subsidiary. "As the pneumonia epidemic is putting pressure on the economy, policymakers need to make efforts to ensure no major disruptions to improving business confidence."

"Cross-border cooperation in terms of the supervision over listed companies' information disclosure will help protect investors' rights. But according to the Chinese law, the exchange of audits should be carried out via supervisory bodies, which conforms to international practices," said the regulator.

"Creating art gives artists purpose and fulfillment in life, and as long as they have an audience, they are creating cultural products that mean something to the public," he said.