Corruption crackdown rules out 'gift giving' ads

China’s TV regulator has banned advertisements selling gold coins, expensive watches and other luxury items that use slogans like “gifts for leaders” or “giving honor to your superiors,” as part of a larger corruption crackdown, Financial Times reported. “These ads transmit an incorrect value system and can easily foster a harmful social atmosphere,” the State Administration of Radio, Film and Television said in a statement. Xi Jinping, set to become China’s president in March, has warned that corruption could “lead to the ruin of the Communist Party” and launched a crackdown in November.