China will ban broadcast advertising of luxury goods as part of efforts to combat corruption and excessive luxuries. Expensive watches, gold coins, rare stamps, as well as alcoholic beverages upscale including items that should not be advertised on radio and TV offer China.
The official news agency Xinhua reported watchdog radio, TV, and FLM China, said the ads convey the values and social ethos inappropriate wrong.
Providing luxury goods to government officials are common in China during the Chinese New Year, which falls on February 10. Chinese New Year celebrations usually last for a full week.
A number of restrictions
The ban was announced after Xi Jinping, who will be sworn in as president, insisted the fight against corruption. However, there are concerns producers of luxury goods hit by China joined a number of restrictions imposed so far.
Last December, for example, the introduction of a ban on serving alcohol offers the military events. Normally the government event was enlivened with upscale banquet alcoholic beverages.
Meanwhile, jewels and watches companies complain that their products are now associated with corruption, which is feared to affect the level of sales.
Shares of the two main suppliers expensive watches in China, Hengdeli and Emperor Watch and Jewellery, reportedly fell in trading Wednesday, February 6.