Lin Qiang, a staff member at a Beijing branch of a State-owned bank, believes that the annual company party might not go ahead this year, following a national call for spending to be reined in.
The branch usually holds its year-end party two to three weeks before the Spring Festival, but it has yet to announce the date of the party, and the Chinese New Year starting February 10 is only one week away.
The branch, with some 600 employees, spent about 200,000 yuan ($32,140) annually on such parties in the past years, with meals costing 1,000 yuan for a 10-person table, lucky draw prizes and other expenses, Lin said.
However, State-owned firms and government departments are reducing their spending following "the central government's recent call to cut out extravagance," Lin said. "And I think my company will do the same."
The call Lin referred to was the eight guidelines for fighting formalism and bureaucracy that were introduced on December 4 by Xi Jinping, general secretary of the Central Committee of the Communist Party of China (CPC).
The plan urged authorities to improve their work style by reducing meetings, simplifying receptions and being more frugal. Xi called again on January 22 for all Party organs and members to make determined efforts to reject extravagance.
The plan has had an immediate effect on official spending. But as a result, many sectors have noticed a sharp drop in orders.
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