China Curbs Official Extravagance

Chinese official extravagance on vehicles, banquets and overseas trips at public expense (“three public expenses”) has been censured by taxpayers as China's fiscal revenue more than quadrupled over the past decade. China's long history of political ranking distinguished by lavish spending on receptions and luxurious official vehicles is an embedded factor behind the “three expenses”. The strong government consumption accounts for the surge in the sale of luxurious products while cheaper commodities suffer.