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sale of luxury food gift boxes in china plummet amid graft sweep

by:Welm     2020-03-04
BEIJING (Reuters)-
Chinese state media say sales of Chinese luxury gift boxes fell sharply in 2013, a reversal of the ruling Communist Party.
Corruption has had an impact on consumer behavior.
A member of the China Food Industry Association told the official Xinhua news agency late Wednesday that sales of gift food fell by about 40% in 2013, according to estimates.
Weng Yangyang, a senior official of the rice cake industry association, said sales of traditional rice cakes had been particularly hit.
Xinhua News Agency said that a packaging gift box of rice cakes packed with reed leaves can be eaten during the Dragon Boat Festival every year for a price of 2,888 yuan.
\"For food companies that rely on selling gifts and looking for high profits, market share has fallen more and times are tough,\" Weng said . \".
Luxury gift boxes containing foods such as premium alcohol, nuts or traditional moon cakes are a necessary part of doing business in China and can be used as a form of soft bribery.
However, since taking over the Communist Party and government in November 2012, President Xi Jinping has vowed to fight corruption.
A year ago, the government launched a campaign against extravagance and waste aimed at reducing gifts and banquets. Gold demand-
Moon cakes with shark wings and other luxurious pastries disappeared during the Mid-Autumn Festival.
This year\'s Mid-Autumn Festival prefers less conspicuous gifts. (
Reports from Adam Rose
Paul Tait editor)
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