TAIPEI ( TheStreet) -- The Communist Party of China is pulling the red carpet out from under its own kind. In December, the Party's leadership that was anointed a month earlier asked officials to avoid lavish banquets and receptions, and military officers will stop doing the same, the state-run Xinhua News Agency says.The anti-corruption blow to a tradition that's as Chinese as dumpling feasts on Lunar New Year or cash gifts at weddings would, taken at face value, slow the flow of high-end food, caterers and liquors.
Banquets Go Under the Table in China, Squeezing Food and Beverage
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