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Chinese authorities launched new rules on the sale of gift cards this month, as a way to tackle corruption in the country. The ease of purchase and transfer of gift cards have made them a preferred tool for bribery. The new rules have changed that, by requiring registrations for cards of high worth, but just how effective it will be in fighting corruption is doubtful.
Gift Cards—for most of us, they're a convenient way to give a gift when you are short of gift ideas. In China, these plastic-equivalents of money have become much more. They're plastic-equivalents for corruption.
This month, Chinese authorities began regulating gift cards, as part of its anti-bribery efforts. But, like many of China's laws, there are doubts over enforcement, and whether it'll really be effective for combating corruption.
Since June 1st, anyone wanting to get a gift card worth over $10,000 yuan—or around $1,500 US dollars—will need to register their identity with the vendor. Before all gifts cards could be purchased anonymously. According to the Chinese regime's State Council, the new regulation would, "prevent money laundering, illegal cash withdrawal, tax evasion and bribery."
Guangzhou Academy of Social Sciences researcher Peng Peng says tackling corruption this way is difficult.
[Peng Peng, Researcher at Guangzhou Academy of Social Sciences]:
"Actually the relevant departments do not have enough determination. Like many of our own departments may frequently accept gift cards. For large businesses, selling gift cards are more profitable. For authorities who accept gift cards, they're also benefiting. So there's a lot of resistance for us."
