Chinese Anti-Corruption Watchdog Eyes Curbs on Business Drinking
The Central Commission for Discipline Inspection suggested minimizing business drinking due to the potential of some “under the table rules” like forced drinking to lead to criminality.
This comes in light of the sexual assault case involving a sacked manager at e-commerce giant Alibaba. The incident happened during a night of heavy drinking of several company executives and an external client.
Bloomberg noted from CCDI’s commentary that employees are being pressured to drink at company excursions.
“If you don’t drink it, it’s regarded as not giving face to the leader, ignoring the ‘rules,'” the anti-corruption watchdog said.
Finding it “difficult to resist,” many people then have to oblige in fear of getting bullied or isolated,” affecting [their] future prospects.”
But the Chinese government already set strict policies requiring self-discipline and stern obedience to laws for social drinking, Peng Hong, the head of Guangdong Liquor Association, told Bloomberg.
He said the recent scandal must be treated as an individual case that will not cause an impact on the drinks industry which has been behaving well over the years.
In China lately, sectors deemed contributing to societal problems are getting the government’s beating. Investors are selling shares from companies that have drawn criticisms from the state media, including those in digital gaming and property.
Immediately responding to the CCDI opinion, investors dumped shares in alcohol-related stocks on Wednesday, including Kweichow Moutai Co., Wuliangye Yibin Co., and Shanxi Xinghuacun Fen Wine Factory Co.
