Cake ban will curb Chinese officials’ spending

By Staff | September 6, 2013 | Last updated on September 6, 2013
1 min read

China’s Mid-Autumn Festival is fast approaching. During this time, government officials usually buy mooncakes for business partners as part of the celebration.

This year, however, the government has declared its staffers can’t use public funds to stock up on the popular cakes, reports CNN. It adds this restriction has been presented as part of President Xi Jinping’s campaign against corruption and extravagant spending.

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Staff

The staff of Advisor.ca have been covering news for financial advisors since 1998.