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Compounding the dire climate, at least 30,000 new local university leavers are scrambling for their very first job amid the sharpest economic downturn in decades that has forced employers to freeze recruitment, rescind offers, slash wages, enforce unpaid leaves or lay off employees.

Colombian chef Leonor Espinosa prepares a dish at her restaurant LEO in Bogota. [Photo/Agencies]

Companies that meet certain requirements will be exempt from income tax in the first and second profit-making years and allowed a 50 percent reduction from the third to fifth years until expiry of the preferential period, which shall start from the first profit-making year prior to December 31, 2018.

Coffee companies, led by Starbucks Corp., claimed that the presence of the chemical in coffee is at trace levels that are harmless.

College graduates take photos in front of the landmark Main Administration Building of Wuhan University in the provincial capital of Central China's Hubei province. [Photo provided to China Daily]