Dealers said market would remain stable until the outcome of the meeting was made known. The figures are weighted averages instead of closing prices and are annual percentage rates. There were no trades on Friday. According to Reuter's. the jobless rate in China's northeast rust-belt, home to much of the state's heavy industry, has reached about 10 percent, the People's Daily said in an unusually frank report on Monday. Unemployment in the region had become a fact of life, and many workers were facing a crisis.
Many workers face a crisis of unemployment and 'xiagang'.
Official data shows unemployment in China at about 4.0 percent. According to Reuter's, the official Xinhua news agency announced after the close of trading on Friday, November 14 that the central government had circulated the rules, allowing the establishment of open-ended funds for the first time. The rules came into effect immediately. Analysts said a national meeting on the financial sector, which begins in Beijing on Monday, is expected to add a cautious note to trading. Brokers in Shenzhen said a big new A share issue will be launched and that should also prevent share prices from rising sharply.