China: luxury? No thanks
The new President of the Republic, Xi Jinping, commented on his decision as follows: "The style of your work is important. If we do not reduce unhealthy trends, we will put a wall between us and the people and we will lose our roots and our strength".
Thus the leaders of the Chinese army received an official list with ten indications of behavior that they will have to strictly follow, among which the ban on wines and spirits in official banquets stands out.
And a few days ago a circular from Sarft, the state administration for Radio, Film and Television, banned the country's broadcasters from broadcasting commercials for luxury products such as watches, rare stamps and gold coins. “As they advertise wrong values and feed a" wrong social ethics ".
What will happen to all Chinese and international luxury brands? Meanwhile, Hengdeli and Emperor Watch and Jewelery, among the most important watch retailers in the country, listed in Hong Kong, lost 2.2 and 1% respectively ...
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