China Favor Seekers Cut Down on Gifts of Rolex Watches

China Favor Seekers Cut Down on Gifts of Rolex Watches

Nelson Ching/Bloomberg

The eastern Chinese city of Wenzhou this month banned government banquets from serving premium liquor such as that made by Kweichow Moutai Co., based in Guizhou province in China, whose half-liter bottles can sell at about $300.