More sectors affected
The guidelines have also affected other sectors that rely heavily on "public expenses" such as spending on official receptions, vehicles and overseas travel.
The Central Military Commission announced cutbacks on liquor-laden banquets in December, leading to a decline in prices and sales of high-end liquor, as well as poorer performance of liquor companies on the stock market.
Shares in Wuliangye Group Co and Jiangsu Yanghe Brewery have been declining this month and shares in Kweichou Moutai Co hit a one-year low Tuesday.
The eight-point plan also called for cuts in welcome banners, red carpets and floral arrangements at receptions, and this has hit the flower business.
A manager surnamed Wang at Beijing-based Lüsen Yongwang Flower Company told the Global Times Tuesday that his business has dropped by two-thirds from one year ago, largely because government departments and schools have not been purchasing flowers and plants.
"Last year I was busy delivering flowers to my clients, but now the three company employees and I sometimes have nothing to do for days," Wang said.
Many meeting planning firms and travel agencies also found their orders from government departments have fallen significantly, according to recent media reports.
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