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Chu is at his wit's end. "I thought my work experience would give me an edge over other fresh graduates, but it didn't. I'll try to lower my salary expectations or even make do with junior posts, probably in other sectors," said Chu, who had wanted a spot in Hong Kong's film or variety show industry.

Clearance documents subject to verification will be reduced from 86 to 48 by Nov 1, as part of efforts to cut administrative red tape.

Chinese support, partnerships and investment in Uruguay could be the key to boosting the growth of the South American country, especially in trade.

Chip designers and software producers will be exempt from corporate taxes for two years, according to a statement released after the meeting. For the following three years, their corporate taxes will be cut by half, the statement said.

Chinese shares closed mixed Friday, with the benchmark Shanghai Composite Index up 0.4 percent to close at 2,702.3 points, while the Shenzhen Component Index closing 0.02 percent lower at 8,322.36 points.