Slowdown hits key export hub
By Yu Ran in Shanghai and Ding Qingfen in Beijing | China Daily | Updated: 2012-08-27 07:59
Firms in Wenzhou facing tough times due to weak global demand
An increasing number of companies in Wenzhou, a key manufacturing and export region, have gone out of business, amid difficulties that are even "more serious" than the 2008 financial crisis, an industry leader said.
The alert came as Premier Wen Jiabao warned over the weekend that the economy still faces downward pressure.
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