Chinese Austerity Drive Spreads Beyond Ferraris

Zhang Hongbao, who’s run a funeral home in Shanghai for more than a decade, says he can’t recall the last time business was so dead.

“Government officials don’t dare to spend too much on funerals,” Zhang, owner of Shanghai Funeral Service (China) Co., said in an interview. “It’s the peak of the anti-corruption drive. They choose simple ceremonies, such as inviting fewer people and have quieter events rather than the noisy rituals of the past.”