Chinese New Year may not be a happy affair for all

HRM 05 Feb 2013

To the Chinese, there is no festival more important that the Chinese New Year. In China, companies scaling back on the traditional annual celebrations are raising the ire of its workers, who deem it as nothing less than a travesty.

This cut in spending has much to do with the austerity drive launched by the new Chinese leadership of Xi Jin Ping due to the economic slowdown. Government departments and state-owned enterprises across China have had to cancel their festivities, causing many workers see red.

According to a report by Financial Times, even private companies are getting into the spirit of austerity, with some opting to hold their parties at fast food  restaurants.

CIC, China's $500bn sovereign wealth fund, opted not to hold a new year party this year. One employee was quoted as saying: "We have never been extravagant in our nianhui [new year parties], and actually had a really good year last year. I can understand if they wanted to do a smaller nianhui, but none at all is going too far."

In Shanghai, employees from branches of Agricultural Bank of China and Pudong Development Bank said their year-end festivities did not take place.

On Sina Weibo, the microblogging site, one employee posted pictures of her company's year end party at Pizza Hut, while another complained her company party at a five-star hotel took place from 9am to 11am and offered only the bare minimum: "No gifts, no lunch, no set plate . . . no tea or coffee offered. Everyone only got a mini bottle of mineral water."



Leave your comment
Start a new discussion

HRM Asia forum is the place for positive industry interaction and welcomes your professional and informed opinion.

Post a Comment
HRM Asia welcomes your contribution. Your IP address is recorded in the event of a complaint.
Name *
Email *
(required, but will not display)
Comment *
Please enter in the numbers in the box left.
You are about to submit your comment. Is it:
  • Professional
  • In your own name or pseudonym, not impersonating someone else
  • Free from rude language
  • Free from advertising
  • If you prefer not to post but are still keen to get your viewpoint across, you can always e-mail the editor.
  • 27 Aug | Frazer Jones - Global HR Search and Recruitment | Singapore
    HR payroll expert required to manage and lead a team in accuracy and compliance of payroll benefits programs and practice
    27 Aug | Frazer Jones Global HR Search & Recruitment | Singapore
    Manage all HR, operational and administrative matters for the office
    25 Aug | Frazer Jones Global HR Search & Recruitment | Singapore
    The HR Associate will support the Regional HR Director on a range of HR matters in the region.
    Itron: A five-prong guideline to employee retention
    Jayesh Menon, Regional HR Leader and Director, Asia Pacific, Itron, shares how companies should formulate a HR blueprint to tackle organisational retention
    Innovation in engagement, motivation and retention of talent
    GSK: Talent management – a serious business imperative
    Talent Management for Sustainability: Default or Design?
    Performance Leadership Pte Ltd | info@performance.sg
    Lunch, Learn and Bond with your teams, all within 1 hour! Choose from a variety of light-hearted, interesting or thought-provoking topics that appeal ...
    Performance Recognition Pte Ltd | info@performance.sg
    A monthly business incubator where leaders grow their skills, exchange ideas and share best practices.
    Organisational Development Concepts | enquiries@odctraining.com.sg
    Companies are fighting to hire talents. How do you select the right candidates with the knowledge, skill and attitude that the company is looking for?