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Nearly 100 manufacturing businesses along the coast failed to re-open as Spring Festival , underscoring the weakness in global market demand and adding pressure on the world's second-largest economy to upgrade its export sector.
State broadcaster China National Radio on Monday reported that some 100 factories that made garments, furniture and daily necessities remained closed or suspended, the victims of declining foreign orders and rising operating costs. The factories are in Wenzhou, Zhejiang province and Dongguan, Guangdong province. Both provinces are part of China's traditional industrial bases.
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