CRI听力:Chinese Government's Thrift Threatens Gift Market

December used to be the busiest season for gift makers and wholesalers, but sales have plummeted this year.

Some business owners in Wenzhou, where 80 percent of the country's calendars are made, say sales have dropped two thirds from previous years, because many enterprises have withdrawn orders.

Pan Lingru has sold high-end, tailor-made calendars for nine years, but now she's struggling to unload a mass of unsold stock.

"Sales are barely a third of last year's and most of our orders are small. We have very few big orders. We used to have big orders from banks and insurance companies, but they're not buying any more."

This phenomenon is partly due to the Chinese government's efforts to curb extravagance, like what has typically been seen during the New Year and Spring Festival holidays in years past.

On the street, many people have given the new policy mixed reviews, as replacing the old wall calendar has long been a tradition for many Chinese at the beginning of a new year.

"I think it is necessary for companies to hand out calendars because we can use them in our daily life. Every year, we need a wall calendar at home, and two or three desk calendars. But if companies print too many calendars and cannot send all of them out, it will be a great waste."

"Calendars are not necessary for me, because I can easily find one on my cell phone or computer. As for New Year's cards, it is a good way to convey emotions between friends, but not between government officials. The officials are always very busy at the end of the year, they won't read the cards anyway."

Despite various views, business owners like Pan are already seeking to transform their business model, diversifying their products and expanding into overseas markets.

This year, Chinese central authorities have released a series of measures to promote frugality, fighting extravagance among party and government officials.

Discipline inspection agencies are working hard to stop officials from holding feasts and exchanging gifts during the holidays.

Luxury goods businesses, high-end restaurants and the entertainment sector have been severely affected as government departments and officials cut budgets.

In general, the public seems to be responding positively to these changes.

For CRI, this is Li Jing.