China orders officials to curb alcohol, cigarette spending amid Xi Jinping’s austerity push
Posted on: May 20, 2025 02:50 IST | Posted by: Hindustantimes
prc reminded officials around the rural area to skip wasteful outlay on move around, food and office space, adding to signs of an austerity push by President Xi Jinping as economic headwinds strain government budgets.
The notice issued by the government and ruling Communist Party also covered outlays on receptions and alcohol and cigarettes, the official Xinhua News Agency said on Sunday.
It calls for “strict diligence and thrift, and opposes extravagance and waste,” Xinhua said, adding that “waste is shameful and economy is glorious.”
A measure of consumer staples stocks was the biggest loser among the benchmark CSI 300 Index’s sub-groups on Monday, slumping 1.4%. Kweichow Moutai Co. Retreated 2.2%, the most in six weeks, and Luzhou Laojiao Co. Lost 2.6%.
The rules amount to a reiteration of Xi’s campaign for officials to cut spending as a drop in revenue from land sales limits budgets and local governments confront a huge debt burden. The central government told officialdom in late 2023 to “get used to belt-tightening,” reinforcing Xi’s campaign to rein in corruption and displays of wealth.
Last year, Beijing kicked off its largest effort in years to address risks from local-authority debt, a move aimed at cutting default risks and giving local governments room to support economic growth.
Global News Perspectives
In today's interconnected world, staying informed about global events is more important than ever. ZisNews provides news coverage from multiple countries, allowing you to compare how different regions report on the same stories. This unique approach helps you gain a broader and more balanced understanding of international affairs. Whether it's politics, business, technology, or cultural trends, ZisNews ensures that you get a well-rounded perspective rather than a one-sided view. Expand your knowledge and see how global narratives unfold from different angles.
Customizable News Feed
At ZisNews, we understand that not every news story interests everyone. That's why we offer a customizable news feed, allowing you to control what you see. By adding keywords, you can filter out unwanted news, blocking articles that contain specific words in their titles or descriptions. This feature enables you to create a personalized experience where you only receive content that aligns with your interests. Register today to take full advantage of this functionality and enjoy a distraction-free news feed.
Like or Comment on News
Stay engaged with the news by interacting with stories that matter to you. Like or dislike articles based on your opinion, and share your thoughts in the comments section. Join discussions, see what others are saying, and be a part of an informed community that values meaningful conversations.
Download the Android App
For a seamless news experience, download the ZisNews Android app. Get instant notifications based on your selected categories and stay updated on breaking news. The app also allows you to block unwanted news, ensuring that you only receive content that aligns with your preferences. Stay connected anytime, anywhere.
Diverse News Categories
With ZisNews, you can explore a wide range of topics, ensuring that you never miss important developments. From Technology and Science to Sports, Politics, and Entertainment, we bring you the latest updates from the world's most trusted sources. Whether you are interested in groundbreaking scientific discoveries, tech innovations, or major sports events, our platform keeps you updated in real-time. Our carefully curated news selection helps you stay ahead, providing accurate and relevant stories tailored to diverse interests.
No comments yet.