China has issued a new regulation on spending for official conferences, pledging to streamline government work and curb extravagance.

The regulation, which was published on Monday and takes effect on Jan 1, applies to the central organs of all political parties, the top legislative and political advisory bodies, central government departments and publicly funded organizations overseen by the central government.

It aims to close loopholes in the current regulation, which has failed to constrain unnecessary meetings and extravagance, said a statement from the Ministry of Finance, which led the drawing-up of the regulation.