Beijing's anti-corruption drive is majorly quelling the culture of gift-giving in the mainland, with the country's super-rich spending 25 percent less on gifts compared with last year, according to a new survey.
The Hurun Report Chinese Luxury Consumer Survey 2014, published on Thursday, polled almost 400 individuals in the mainland, with a personal wealth of 10 million yuan ($1.65 million) or more.
Since the government began its crackdown on graft in 2012, demand for gifts typically given to civil servants from business leaders - such as expensive bottles of alcohol or luxury watchers - has waned.
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In addition to spending less on others, China's wealthy are also splurging less on themselves, reflecting a broader slowdown in the world's second largest economy.
The average spending of China's high net worth individuals decreased by 15 percent on-year, the survey showed. However, their material aspirations remain very much intact.