China Rebound at Risk as Xi Curbs Officials’ Lavish Spending

China Rebound at Risk as Xi Curbs Officials’ Lavish Spending

Nelson Ching/Bloomberg

Bottles of Kweichow Moutai, China’s “most prestigious liquor,” sold for an average 1,300 yuan in March, down 28 percent from December, when military staff were banned from consuming alcohol during official functions, HSBC Holdings Plc said in an April 10 report.