国产热热热精品,亚洲视频久久】日韩,三级婷婷在线久久,99人妻精品视频,精品九热人人肉肉在线,AV东京热一区二区,91po在线视频观看,久久激情宗合,青青草黄色手机视频

Business / Industries

Graft fight dents overseas spending

By Straits Times in Singapore Asia News Network (China Daily) Updated: 2014-11-26 08:03

China-dependent foreign businesses feel pinch as officials reduce largesse

As a graduate student in Australia six years ago, Liu Jingping moonlighted at a Chinese restaurant where many Chinese government officials on "work trips" would dine.

They would order lobster and other expensive seafood that they washed down with baijiu, the fiery, sorghum-based Chinese liquor.

But such overseas government trips are a thing of the past amid Beijing's anti-graft and austerity campaigns, which are reverberating far beyond its shores, said Liu, 34, now a tourism analyst and part-time tour guide.

The China-dependent sector of the global tourism industry has been hurting since President Xi Jinping put fighting corruption at the top of his agenda after coming into power in November 2012.

From casinos in Singapore to fashion houses in Europe, tourist traps the world over are feeling the sting of the triple-whammy of China's anti-graft push, its austerity drive and its slowing economy.

With the launch of an anti-corruption network among Asia-Pacific economies earlier this month and a pledge by the Group of 20 countries last weekend to increase cooperation to facilitate the recovery of ill-gotten gains, experts say the global impact of China's anti-graft drive might get stronger.

Already, weakness in the largely Chinese VIP business at Singapore's Marina Bay Sands dragged its third-quarter, VIP rolling-chip volume down by 34 percent.

Gaming revenue at Resorts World Sentosa similarly slipped, by 21 percent.

Europe has also not been spared, with tax-refund claims by Chinese tourists growing just 18 percent last year, compared with 57 percent in 2012, said tax refund firm Global Blue. It was at 80 percent in 2010.

Education sectors in the United States and Australia have also been under pressure, partly due to Beijing cutting off funding for civil servants' further studies and officials spending less on their children's education.

Chinese applications to US graduate schools fell 1 percent this year, after seven consecutive years of double-digit growth, according to the Council of Graduate Schools.

In Australia, where more than 25 percent of students are Chinese, a similar trend of softening demand is being observed, said Michael Sainsbury, editor of the Little Red Blog, which analyzes China news.

Previous Page 1 2 Next Page

Hot Topics

Editor's Picks
...
千阳县| 泸西县| 永济市| 新密市| 个旧市| 潞西市| 五指山市| 镇远县| 广汉市| 夏邑县| 淮南市| 勃利县| 武安市| 保山市| 桃江县| 五常市| 东乡族自治县| 壶关县| 南华县| 太康县| 平遥县| 错那县| 婺源县| 道真| 田东县| 甘南县| 留坝县| 资溪县| 甘谷县| 建瓯市| 加查县| 平湖市| 得荣县| 原平市| 华容县| 体育| 洛宁县| 楚雄市| 霍州市| 苍山县| 庆城县|