| 1. | One was the cyclical downturn in the residential property market
首先是住宅物业市场的周期性衰退。 |
| 2. | Imf commends hong kong s approach in tackling cyclical downturn and structural adjustments link to fsb website
国际货币基金组织赞扬香港为应付周期性经济下滑及结构性转型所采取的策略连结财经事务局网站 |
| 3. | The rapid deterioration of the external environment now threatens to prolong the cyclical downturn in hong kong , engulfing the vigorous , but all too brief , resurgence last year
外围环境迅速恶化，可能会令香港面对的周期性衰退持续一段更长的时间，令去年出现的强劲但短暂的复苏消失于无形。 |
| 4. | Nevertheless the lack of investments in the laminate and its related upstream industries particularly glass yarn in the preceding cyclical downturn supported a favorable supplier market throughout the year
然而由于在经济周期的低潮时，业界对覆铜面板及相关的上游工业，特别是玻璃丝的投资不足，导致整年来市场均以供应商为主导。 |
| 5. | Nevertheless the lack of investments in the laminate and its related upstream industries particularly glass yarn in the preceding cyclical downturn supported a favorable supplier market throughout the year
然而由于在经济周期的低潮时，业界对覆铜面板及相关的上游工业，特别是玻璃丝的投资不足，导致整年来市场均以供应商为主导。 |
| 6. | But it continues , as before , to be highly supportive of the policies being pursued by the sar government , which currently focuses on tackling the twin challenge of a sharp cyclical downturn and structural changes from increasing integration with the mainland
不过，基金组织如往常一样，继续大力支持香港特区政府的政策，而这些政策目前正集中处理经济周期性大幅衰退，以及因与内地日渐融合而出现的结构性转型这两项挑战。 |
| 7. | The international monetary fund ( imf ) gives a positive assessment of hong kong s economic prospects in its staff report on the hong kong special administrative region , and commends the government s policies to deal with the twin challenges of a sharp cyclical downturn and structural adjustments from growing economic integration with the mainland
国际货币基金组织（基金组织）在有关香港特别行政区的《工作人员报告》中对香港的经济前景作出正面评估，并赞扬政府采取适当政策，以应付经济周期显下滑及中港两地日渐融合带来经济结构转型的双重挑战。 |
