WONG:
March means big sales for many Chinese luxury goods companies.
That's the month, reports the New York Times, that up to five thousand Communist Party delegates from across China come to Beijing for the annual National People's Congress and the Chinese People's Political Consultative Conference.
Despite assertions to the contrary, some delegates can't resist buttering up their superiors by buying them expensive gifts such as Gucci handbags, Hermès [hair-MEZ] scarves, Montblanc pens, and $30,000 diamond-studded Swiss watches.
Though lavishing government officials like this is a year-round practice, sales spike in March thanks to the two mega meetings.
The practice reflects the Chinese penchant for gift-giving to build up personal relationships.
Bribery is strictly against the law of course, but that doesn't seem to deter Party cadres—industry experts say that buying gifts for government officials makes up almost 50 percent of China's luxury sales.
Since lower level government officials have shallow pockets, purchases are usually made with state money, or are paid for by private businessmen who also want to curry favor with the cadres.
Duration : 0:1:13
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People who upload …
People who upload videos should take note of the amount of information provided in the more info section. NTDTV always does this well and it is very useful for me.
Thank you NTDTV !!!!!
Yet another …
Yet another excellent and informative video from NTDTV !!!!!
No government does …
No government does OPPRESSION like the CORRUPT chinese communist party !!!!!
Yea, nobody does …
Yea, nobody does bribery as good as the Chinese.