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As the picture worsened in China during January, however, I began to sweat. The seed of doubt sprouted and then grew like Jack's overnight beanstalk. Domestic flights were being canceled left and right.

As the tax and fee cut plan and downside pressure entail slower fiscal revenue growth this year, the country does face challenges of maintaining the balance between spending and revenue, Liu said.

As the largest pharmaceutical exporter in the Guangxi Zhuang autonomous region, the company employs more than 1,200 employees, and has been hiring 200 new staff every year. It specializes in the manufacture of over 200 types of products in four categories (tablet, capsule, injection and bulk drug).

As the over-subscription represents 20 times or more of the total number of offer shares initially available under the Hong Kong public offering, the reallocation procedure in the prospectus has been applied and 37.5 million offer shares have been reallocated from the international offering to the Hong Kong public offering, it noted.

As the world's second largest economy, China is in the middle of a major economic transformation shifting from speed to quality. For example, slower GDP growth is more tolerable while other factors including employment, environment and industrial restructuring are given greater importance.