HONG KONG (AFP) - China's big spenders are reining in overt shows of wealth, shelving shopping trips in Hong Kong and Macau gambling sprees in the face of the Communist Party's anti-corruption and frugality drive, analysts say.
President Xi Jinping has launched a much-publicised graft crackdown since taking office last year with a series of high profile takedowns of party officials sending shockwaves through an elite who once did little to hide their prosperity.
Already a subscriber? Log in.
Limited time offer:
Just RM5 per month.
Cancel anytime. No ads. Auto-renewal. Unlimited access to the web and app. Personalised features. Members rewards.
Follow us on our official WhatsApp channel for breaking news alerts and key updates!