China is moving to ban alcohol consumption for CCP and government officials, as per a Bloomberg report

Rumors circulating the market claim that China is preparing to outlaw alcohol use. According to a Bloomberg article, the dictatorial CCP administration in Beijing is apparently considering issuing a restriction order that will apply to CCP and government employees.

The publication’s report suggests that the ban could apply to individuals beyond their working hours. A report posted on the Chinese internet platform NetEase added fuel to the fire.

Is ‘prohibition’ actually necessary? The ‘prohibition order’ must have a solid foundation from which to grow. ‘It is not only to assure the effectiveness of civil servants’ work and to control their behaviour, but also to be accountable to the people,’ the article stated.

‘Things have two sides, but from a practical point of view, drinking alcohol is indeed easy to delay things, which not only brings adverse effects on oneself, but also easily affects others, because, starting from the adjustment of civil servants, a ‘prohibition order’ will be implemented,’ it added.

The market has experienced volatility as a result of the talk surrounding the move, with the share prices of key alcohol producers like Kweichow Moutai, Wuliangye Yibin Co., and Budweiser Brewing Co. swinging to extremes.

Notably, the rumours surface just days before the once every five years CCP session, at which President Xi Jinping is anticipated to secure a third term and surpass Mao.