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Lee said he was worried about the reverse problem of the huge Chinese market being both a blessing and a curse for the local IT firms. It's a blessing in that it is a huge market that is usually difficult for foreign firms, and it is a curse in the sense that, because the Chinese market is so large that it is difficult for a firm to lift itself up and go get the overseas market once it has succeeded in optimizing for the Chinese market.

BEIJING, Aug. 5 (Xinhua) -- China's central bank said Sunday it will strengthen the fine-tuning of its monetary policy in the second half of this year, indicating as many analysts believe that more liquidity may be injected into the world's second largest economy.

Torrential rains have devastated 22 provincial-level regions in China since July 20, leaving 111 dead and another 47 missing, the Ministry of Civil Affairs said Tuesday.

It will also have significance for China-Europe relations, as Denmark holds the presidency of the European Union in the first half of 2012.

In light of slowing economic growth and waning coal demand, a slowdown trend for coal supply and demand in the third quarter, or the second half of this year, will continue, industry insiders say.