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Even moon cakes! Xi’s war on extravagance adds to China’s economic woes

The Australian Financial Review (AFR) •
October 29, 2026 • 05:00 AM
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Another crackdown on lavish banquets and expensive gifts is colliding with Beijing’s push to revive consumer spending.

Even moon cakes! Xi’s war on extravagance adds to China’s economic woes

Tokyo | Chinese President Xi Jinping has just doubled down in his now-familiar war on ostentation, using this week’s gathering of the country’s Communist Party leaders in Beijing to remind them to rein in excess.

As the plenary session – known as the Fifth Plenum – began, the state-owned People’s Daily published a lengthy warning to officials against over-indulgent drinking and dining, extravagant gifts and vanity projects aimed more at advancing political careers than improving society.

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