www射-国产免费一级-欧美福利-亚洲成人福利-成人一区在线观看-亚州成人

US EUROPE AFRICA ASIA 中文
China / Government

Anti-graft campaign freeing up money for growth

By Bloomberg (China Daily) Updated: 2014-09-26 08:07

The champagne has stopped flowing in Beijing, and Joerg Wuttke couldn't be happier about it.

President Xi Jinping's crackdown on everything from gift giving to excessive wining and dining is leveling the business playing field, said Beijing-based Wuttke, president of the European Chamber of Commerce in China. Even as antitrust probes zero in on foreign companies from Microsoft to Qualcomm, the government's anti-corruption campaign is making one aspect of business easier in the world's second-biggest economy.

"It takes the stress away," said Wuttke, head of a chamber whose members include Airbus and BMW. "You're not afraid that somebody gets an order because he found a better champagne or something like that. It's not Singapore yet, but it's a very positive development."

Economists forecast Xi's crackdown will boost GDP growth by one-tenth to one-half of a percentage point in 2020 as the drag on business from greased palms eases, according to estimates from 17 economists surveyed by Bloomberg News.

"Anti-corruption helps the economy in the long run, as it reduces business costs," said Chang Jian, chief China economist with Barclays Plc in Hong Kong. "Just like a corporate restructuring, it brings short-term effects but has benefits in the future."

So far, Xi's campaign to net both "tigers and flies," parlance for cadres from the top to bottom ranks, has ensnared more than 480 officials, spanning all of China's provinces and largest cities.

Among those embroiled in the campaign is Zhou Yongkang, a tiger who was a onetime member of the Party's Politburo Standing Committee.

The immediate impact of Xi's crackdown is hitting revenue at Macao blackjack tables, Hong Kong luxury boutiques and high-end hotels and restaurants in China's biggest cities. Growth will be 0.1 to 0.4 percentage point lower than otherwise due to the campaign this year and next, according to economists surveyed.

China's luxury spending grew by about 2 percent last year, the slowest pace since at least 2000, as more shoppers traveled abroad and the anti-corruption campaign bit, according to advisory firm Bain & Co.

Companies from Australia's Treasury Wine Estates, maker of the $700-a-bottle Penfolds Grange, to Hong Kong listed Chow Tai Fook Jewellery Group, have cited the crackdown on gift giving and corruption as a brake on sales.

Highlights
Hot Topics
...
主站蜘蛛池模板: 三级网址在线观看 | 九九大香尹人视频免费 | 欧美成人精品不卡视频在线观看 | 男女视频在线免费观看 | 国产成人丝袜网站在线看 | 怡红院老首页主页入口 | 亚洲成 人a影院青久在线观看 | 美女双腿打开让男人桶爽网站 | 亚洲午夜18 | 成年人免费观看视频网站 | 亚洲片在线观看 | 欧美亚洲国产成人综合在线 | 欧美精品一区二区三区免费观看 | 那里有黄色网址 | 成人免费手机在线看网站 | 色婷婷激婷婷深爱五月老司机 | 韩国毛片免费播放 | 欧美一级视频在线高清观看 | 国产成人免费高清激情视频 | 久久青草国产手机看片福利盒子 | 日本加勒比视频 | 成年人免费的视频 | 日韩精品免费视频 | 欧美人成人亚洲专区中文字幕 | 欧美日韩国产人成在线观看 | 久久综合中文字幕一区二区 | 久久精品视频免费看 | 男人的天堂欧美 | 九九99re在线视频精品免费 | 香蕉99国内自产自拍视频 | 香港台湾经典三级a视频 | 玖玖啪 | 欧美a在线 | 国产在亚洲线视频观看 | 大陆精品自在线拍国语 | 性做久久久久免费看 | 国产欧美日韩在线观看 | 亚洲国产日韩欧美综合久久 | 东凛中文字幕 | 国产永久高清免费动作片www | 国产下药迷倒白嫩丰满美女j8 |