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May edition宏
Overview of any government movements affecting end consumers and brands.
China’s securities industry has proposed new rules aimed at stabilising market sentiment by encouraging positive discourse and penalising industry insiders who flaunt wealth, damage the industry’s reputation or offer excessive incentives without justification.
This follows broader efforts in recent years to rein in high-income sectors or “money worshipping unhealthy values”. The finance industry has already capped annual salaries at RMB 1 million, and multiple social media accounts showcasing lavish lifestyles were banned in May 2024. Rednote has also updated its platform guidelines to suppress posts that feature excessive consumption, luxury-driven narratives or promote off-platform sales.
If passed, this would mark the first time an industry in China explicitly prohibits displays of wealth—potentially signalling a shift that could impact the luxury market.
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