As growth in China’s sagging economy looks on the verge of spilling below 7 per cent, officials fearing a spike in unemployment are pulling out all the stops to avoid mass lay-offs.
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Luxury hotels in the Wudang Mountains in central China, famous for the area’s Taoist temples and monasteries, have suffered losses due to a sharp drop in official receptions amid the county’s crackdown on extravagant spending by government officials, state-run media reported.