Under the US-China Trade War, the CCP Reiterates "Living a Tight Life"

As the US-China trade war continues to escalate and local fiscal revenues face severe challenges, Beijing has once again stressed that party and government agencies should "tighten their belts and live a tight life." The Communist Party of China recently revised and promulgated the "Regulations on Party and Government Agencies to Practice Thrift and Oppose Waste." This move was interpreted as an institutionalized means for the authorities to cop…