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'Lost' staff prompt a headache (4)

By Qiu Quanlin (China Daily)

14:38, February 04, 2012

"Many businesses, especially small- and medium-sized companies dare not raise the wages because of rising production costs and slower business growth," said Peng.

The profits of Chinese industrial companies increased at a slower pace in 2011 as the European debt crisis threatened the nation's exports, the National Bureau of Statistics (NBS) said on its website on Friday.

Net profits for the year only rose by 25.4 percent year-on-year from 2010 to 5.45 trillion yuan, the NBS said. The growth rate rebounded from 24.4 percent in the first 11 months of last year.

But it marked a gradual downshift from growth of 32 percent year-on-year seen during the first quarter, 28.7 percent during the first half, and 27 percent in the first three quarters.

The authorities have introduced a series of measures to ensure funding for key investment and to boost credit in the economy, especially for small- and medium-sized businesses, to help sustain growth.

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