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Shenzhen Daily: Factory closure impact limited: Mayor Xu

by Wang Yuanyuan

THE financial woes had shut down 682 factories in Shenzhen so far this year, laying off 50,000 workers, Mayor Xu Zongheng told world reporters yesterday.

“But the impact on the city’s overall economic development is limited,” he said at a meeting with a delegation of 50 foreign and Chinese journalists.

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